Airtel M-Commerce Services, a subsidiary of Bharti Airtel (Airtel), on Tuesday said it has been renamed asAirtel Payments Bankafter receiving the necessary approvalsfrom all concerned authorities.
The company also unveiled a new logo to reflect its new identity. The company plans to start rolling out its banking network in the second quarter of the current financial year, it said in a statement.
On April 11, Airtel Payments Bank received a payments bank licence from the Reserve Bank of India. It plans to leverage on Airtel’s national distribution network in the rural areas and offer a platform to deliver banking services to the last mile.
Currently, the Airtel distribution channel is spread across 15-lakh outlets covering around 87 per cent of the country’s population.
Kotak Mahindra Bank has acquired 19.90 per cent stake in Airtel Payments Bank for around Rs98.8 crore.
The company also unveiled a new logo to reflect its new identity. The company plans to start rolling out its banking network in the second quarter of the current financial year, it said in a statement.
On April 11, Airtel Payments Bank received a payments bank licence from the Reserve Bank of India. It plans to leverage on Airtel’s national distribution network in the rural areas and offer a platform to deliver banking services to the last mile.
Currently, the Airtel distribution channel is spread across 15-lakh outlets covering around 87 per cent of the country’s population.
Kotak Mahindra Bank has acquired 19.90 per cent stake in Airtel Payments Bank for around Rs98.8 crore.
No comments:
Post a Comment