Profile
Settings
Refer your friends
Sign out
On Tuesday, the Reserve Bank of India has said that they have included the payment Bank of Airtel in the “second scheduled to the Reserve Bank of India Act of 1934” this act is known as a “scheduled commercial bank”, Airtel payment bank has a large network with over 500,000 banking points, in every six villages there is a one Bank of Airtel payment bank, in Airtel payment bank you can easily open up a bank account within few minutes, in this article we have covered all information related to airtel payments bank customer care and Airtel money to the Bank.
Airtel payment bank details
Now let us see what Airtel payment bank is-
- Airtel payment bank is one of the fastest-growing digital banks in India, and it has over 115 million active users.
- It has a retail network of more than 500,000 banking points, and it also offers you different kinds of solutions with the help of the Airtel thanks app.
- In September 2021, this bank turned profitable in the quarter.
- Rather than participating in welfare schemes organised by the government, it can also undertake both state and central government business.
- Now, the Airtel payment bank can issue proposals.
About Urjit patel
Urjit Patel, a former Reserve bank of India governor, is appointed as the Asian infrastructure investment bank’s vice president for three years; he will become one of the five presidents of the Asian infrastructure investment bank. Urjitpatel will take charge from February 2022; Urjit Patel will succeed DJ Pandit, the outgoing vice president.
Facilities available at Airtel payment bank
As we already know that Airtel payment bank is a completely paperless bank and below given points tell you about the facilities which are available at Airtel payment bank-
Interest rates- An individual can get up to 7.25% interest rates per annum in savings account deposits.
Digital bank- Airtel payment bank is a completely paperless bank. It is fully digital to open an account in an Airtel payment bank; you are already required for an aadhaar card and KYC, and no more documents are required to open a bank account.
Airtel money to bank- in Airtel payment bank, you can easily transfer money to every bank in India.
Accidental insurance- in Airtel payment bank, you can get up to ₹1,00,000 personal accidental insurance.
Withdrawal and deposit of money- there is a wide outlet of Airtel payment bank available in our country, which provides easy withdrawal of money and easy deposit of cash.
Now a scheduled bank
As the Airtel payment bank has become a scheduled bank, it can now issue government proposals, undertake state and central government business, and participate in welfare schemes in which the government is operating. Airtel payment bank is one of the fastest-growing digital banks in India, and it has over 115 million active users daily. The CEO of Airtel payment bank has said that we are thankful to RBI for adding the Airtel payment bank as a scheduled bank, and this is one of the most important milestones in their growth.
Features of Airtel payment bank
Now let us discuss the features and key terms of the Airtel payment bank-
- Airtel payment bank is a non-universal bank.
- Airtel payment bank has a capital of up to 100,00,00,000.
- In payment banks, they can make deposits up to two lacs rupees.
- Scheduled banks can ask for current accounts and savings in the form of deposits.
- The demand deposit balance should be up to 75%, and the remaining 25% should be as a time deposit regarding other scheduled banks.
- Airtel payment banks cannot ask for credit cards, and they can’t receive time deposits; they cannot issue any loan.
- For non-banking financial activities, they cannot set up any subsidiary.
- In India, there are only six payment banks.
Conclusion
Recently, Airtel payment bank has become a scheduled bank. It has been included under the Reserve Bank of India list; Airtel payment bank is one of the fastest-growing digital banks in India. It has more than 115 million active users right now. And Airtel payment bank is a completely digital bank, and for opening a bank account in this bank, no excess amount of documentation is required. In this article, we have covered all the information related to the airtel payment bank, airtel money to the bank, and airtel payments bank customer care.
