Airtel Launches Its Payments Bank
Friday, January 13, 2017, 11:20 AM
Airtel Payments bank was launched by Finance Minister Arun Jaitley, on Thursday. The initial investment of this payment bank is INR 3000 crores and it offers an interest rate of 7.25% for savings accounts. Payments banks can accept deposits, but are not permitted to lend. Airtel Payment Bank will use 2,50,000 of Bharti Airtel's retail mobile services outlets to offer its services.