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Airtel Payments Bank launches Bharosa savings account scheme

Wednesday, September 18, 2019, 10:56 AM

Airtel Payments Bank announced the launch of 'Bharosa savings account'. The 'Bharosa savings account' will enable customers to withdraw cash, check balance and access mini statement of the account at over 6,50,000 Aadhaar Enabled Payment System (AePS) outlets across the country, the company said in a statement. This savings account will also offer a free accident cover of Rs. 5 lakh.
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Airtel Payments Bank records 69% increase in revenue

Friday, October 5, 2018, 12:05 PM

Airtel's banking arm Airtel Payments Bank has reportedly recorded an 11.68% increase in losses to Rs 272 crore in FY18 as compared to Rs 244 crore in the preceding fiscal. The bank's revenue rose nearly 69% to over Rs 160 crore for the financial year 2018. The Sunil Bharti Mittal-led company's expenditure increased to Rs 433 crore during the fiscal.
 
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Payments banks' total deposits under Rs 540 crore, reveals RTI

Thursday, September 13, 2018, 7:15 AM

The four payments banks operating in India had total deposits of just under Rs 540 crore, which is less than 0.005% of overall bank deposits of Rs 115 lakh crore, an RTI query has revealed. As of May this year, Airtel Payments Bank had the highest deposits of 307 crore, followed by Paytm Payments Bank, which had deposits of Rs 194 crore.

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