Over 1 lakh SB accounts opened in TN: Airtel Payments Bank

Airtel Payments Bank, which was the first payments bank to go live, has committed investment of Rs 3,000 crore countrywide

March 13, 2017 04:26 pm | Updated 05:32 pm IST - Chennai,

Shashi Arora, MD & CEO, Airtel Payment Bank. Photo: Ashoke Chakrabarty

Shashi Arora, MD & CEO, Airtel Payment Bank. Photo: Ashoke Chakrabarty

Airtel Payments Bank, offered by telecom major Bharti Airtel, announced that over one lakh savings accounts were opened in 100 villages across Tamil Nadu.

Through the initiative, the villages would have access to banking services along with the option of making digital payments, a company statement said here.

“We are delighted to have taken formal banking services to these remote rural pockets of Tamil Nadu. We are fully committed to the vision of Digital India and financial inclusion,” MD and CEO of Airtel Payments Bank, Shashi Arora said.

Till date, over one lakh savings accounts have been opened with Airtel Payments Bank across Tamil Nadu. A network of over 16,000 neighbourhood Airtel stores offer banking services.

By launching the service, Airtel Payments Bank will not charge any processing fee from its customers and merchant partners for digital transactions.

Airtel Payments Bank, which was the first payments bank to go live, has committed investment of Rs 3,000 crore countrywide and plans to build digital payments with over five million merchants.

Payment Banks accept deposits from individuals and small businesses up to a maximum of Rs 1 lakh per account.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.