No. of Branches : 1 | Total No. of Staffs : 1001-25000
In 2015, eleven companies received In-principle approval from the Reserve Bank of India to set up Payments Bank under the guidelines for Licensing of Payments Bank.[5]
On 11 April 2016, Airtel Payments Bank became the first company to receive the Payments Bank license from the Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949.[6] Airtel Payments Bank started with an 80:20 partnership between Bharti Airtel and Kotak Mahindra Bank.[7] In August 2021, Kotak Mahindra sold its stake to Bharti Enterprises Ltd. As on 31 December 2021, 99.9% equity capital of the Bank is owned by the Bharti Group of Companies. It turned profitable in the quarter ended 30 September 2021, with an annual revenue run rate of Rs 1,000 crore.[8]
Bharti Airtel launched Airtel Payments Bank in September 2016 and went live with its pilot project in Rajasthan in November 2016.[5]
It was launched nationally in January 2017 to support the cashless revolution promised by the Government of India.[9]
Airtel Payments Bank has 62 million engaged users and serves them through its unique, digital technology and a retail-based distribution network. The Bank has built a strong network of over 500,000 neighborhood banking points.[10]
The Bank's capital at its establishment was Rs 3,000 crore (US$441 million).[11] In December 2021, money deposited with Airtel Payments Bank surged 75 per cent to Rs 1,000 crore as compared to 2020. Total share capital infused till date is Rs 2,348 crores as per financials.[12]
S.No | City | Address |
---|---|---|
1 | Coimbatore | Nava infia |