IncPres - Company News and Business Information
No Result
View All Result
No Result
View All Result
IncPres - Company News and Business Information
No Result
View All Result
Home India

India’s first Payments Bank goes LIVE-Airtel Payments Bank starts pilot Services in Rajasthan. Interest rate of 7.25% p.a. on savings account deposits.

photoact by photoact
November 7, 2022
in India
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Over 10,000 Airtel retail outlets in towns and villages across Rajasthan will function as banking points and offer convenient banking services to customers

Interest rate of 7.25% p.a. on savings account deposits

Will have a network of over 100,000 merchants (shops) across Rajasthan accepting digital payments from Airtel Payments Bank, offering customers the convenience of cashless purchase of goods/services using their bank accounts/ wallets

Will contribute to Government’s vision of financial inclusion and banking for all

New Delhi/Jaipur, November 23, 2016: Airtel Payments Bank Limited (“Airtel Payments Bank”), a subsidiary of Bharti Airtel Limited (“Airtel”), today said that it has rolled out a pilot of its banking services in Rajasthan. The pilot is aimed at testing systems and processes ahead of a full scale pan Indian launch.

With this, Airtel Payments Bank becomes the first payments bank in the country to go LIVE. Customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail outlets, which will also act as Airtel Payments Banking points and offer a range of basic, convenient banking services. Airtel Payments Bank will commence the pilot with banking points at 10,000 Airtel retail outlets.

A wide network of merchants (sellers/shops) across Rajasthan will accept digital payments from Airtel Payments Bank from day one, offering customers the convenience of cashless purchase of goods and services via their mobile phones in a quick and secure manner. Airtel Payments Bank plans to expand its merchant network in Rajasthan to 100,000 by the end of the year, giving a big boost to digital payments ecosystem.

Airtel Payments Bank is a fully digital and paperless bank. Airtel Payments Banking points will offer bank account opening services and cash deposit & withdrawal facilities.

  • Digital Banking: Quick and paperless account opening using Aadhaar based e-KYC. This requires no documents at all, only the customer’s Aadhaar number is needed
  • Customer’s Airtel mobile number will be his/her bank account number
  • Interest rate of 7.25 % p.a. on deposits in savings accounts
  • Money transfer to any bank account in India (Free money transfer from Airtel to Airtel numbers within Airtel Payments Bank)
  • Personal Accidental Insurance of Rs. 1 Lac with every Savings Account
  • Easy deposit and withdrawal facility across a wide network of Airtel retail outlets

Smt. Vasundhara Raje, Hon’ble CM of Rajasthan, said, “Congratulations to Airtel for making Rajasthan the first state in India to have Airtel Payments Bank. This initiative, perfectly in sync with Hon’ble Prime Minister’s vision for financial inclusion and Digital India, will be a boon to residents in far flung areas who are yet to have access to formal banking. I look forward to Airtel reaching every corner of Rajasthan.” 

Shashi Arora, MD & CEO, Airtel Payments Bank, said, “Airtel Payments Bank is fully committed to the Government’s vision of financial inclusion and banking for all. Airtel Payments Bank will play an important role in taking banking services to the last mile in a quick and efficient manner and benefit millions of unbanked citizens of this country. With this pilot, we have taken a big step towards the launch of our banking services and will be testing our operational readiness for full-scale launch across India. We would also like to use feedback from our customers to further improve our processes and look forward to serving them.”

Airtel Payments Bank’s services can be accessed by Airtel customers on their mobile phones through the Airtel Money app, through USSD by dialing *400#; or via a simple IVR by dialing 400. Both the USSD & IVR options are available in Hindi and English language and work on simple feature phones as well. Non Airtel customers can access Airtel Payments Bank’s services by dialing 8800688006. Customers can also visit any designated Airtel retail outlet to access services (and not just the outlet where they have opened the account).

On April 11, 2016, Airtel Payments Bank became the first entity in India to receive a payments bank license from the Reserve Bank of India (RBI). It intends to bring banking services to the doorstep of every citizen of the country. It plans to leverage Bharti Airtel’s extensive national distribution network of over 1.5 million retail outlets, with deep penetration in rural areas.  

Airtel Payments Bank’s product portfolio includes payment banking services and semi-closed mobile wallet services (Airtel Money).

Notes to Editors
Who can open an account with Airtel Payments Bank? Does one need to be an Airtel customer?
Anyone (non-Airtel customers also) with an Aadhaar card can open a Savings Account with Airtel Payments Bank.

How do I open an account with Airtel Payments Bank? What documents do I require?
A Customer can open an account by visiting a designated Airtel retail outlet in his/her neighbourhood. No documents are required. Only the customer’s Aadhaar number is needed for opening an account. The account will be opened through a paperless process within minutes through Aadhaar based e-KYC authentication.

Does Airtel Payments Bank offer ATM/Debit Card facility?
Airtel Payments Bank does not offer ATM/Debit Card facility, at present. Customers can deposit withdraw cash at any of the designated Airtel retail outlets, which will also function as Airtel Payments Banking points.

How does a customer check his/her account balance?
Airtel Payments Bank is a paperless bank. Customers can check their account balance, access other services using Airtel Money app, USSD or IVR over their mobile phones

How can one transfer money from Airtel Payments Bank to family and friends? Can I transfer money to any bank account in India? 
Customers can access money transfer services using the the Airtel Money app or through USSD by dialing *400#. Money transfers from one Airtel number to another Airtel number within the bank will be free.



Source link

Related

Airtel Xstream augments content portfolio with addition of FanCode

Airtel Press Release

Airtel Press Release

Tags: Airtel
ShareTweetSendSharePinShareSend

RelatedNews

Airtel Xstream augments content portfolio with addition of FanCode

by photoact
May 19, 2023
0

India’s fastest growing OTT aggregator now offers 19 platforms with single log-in at one price New Delhi, May 11, 2023:...

Airtel Press Release

by photoact
May 13, 2023
0

With India staying at home, Readers can break the monotony with titles from top authors across multiple genres with the...

Airtel Press Release

by photoact
May 12, 2023
0

Aim to deepen penetration of financial services in underbanked and unbanked regions Will also develop a wide range of retail...

airtel-logo_opt.png

Airtel surpasses the 2 million customer mark on its 5G network in Andhra Pradesh and Telangana

by photoact
May 11, 2023
0

Airtel surpasses the 2 million customer mark on its 5G network in Andhra Pradesh and Telangana Source link

Airtel launches new partnership with Bridgepointe Technologies under Global Channel Partners Programme

by photoact
May 4, 2023
0

New Delhi, India – May 1, 2023: Bharti Airtel (“Airtel”), one of India’s leading telecommunications service provider, today, announced its...

Airtel partners with Secure Meters to deploy 1.3 million NB-IoT powered smart meters in Bihar

by photoact
April 27, 2023
0

This will be India’s first NB-IoT service with a fall-back option to ensure continuous connectivity New Delhi, April 24, 2023:...

ADANI Adani Enterprises Adani Group Aditya Birla Group Airtel Ambuja Cement Apollo Hospitals Apple Inc Bajaj Auto Bank of America Cigna Corporation Cognizant India Dabur India Dalmia Bharat Exxon Mobil FedEx Corp General Electric Godrej Group HAL Home Depot ICICI Bank Indian Bank Infosys Kubota Corporation L&T Mahindra & Mahindra Meta Platforms Microsoft National Aluminium Company Nestle India Royal Dutch Shell Samsung Global Saudi Aramco Standard Chartered Bank Steel Authority of India Sun Pharma Target Corporation Tata Chemicals Tata Consumer Products Tata Motors Tata Power Tata Steel UltraTech Limited Verizon Communications Voltas Limited

    © 2022 incPres.com

    No Result
    View All Result

      © 2022 incPres.com