Bharti to Officially launch Airtel Payments Bank today(Now Launched)

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Airtel Payments Bank TVC goes on air during India-England T-20 series

Airtel Payments Bank Wednesday launched a TV campaign to showcase its digital banking offerings.

Conceived by Taproot-Dentsu , the campaign goes live during the India and England T-20 series.

On January this year, Sunil Mittal-driven Bharti Airtel unveiled Payments Bank to facilitate financial services to customers.

The campaign, based on the theme “Bank Hai Par Alag Hai”, highlights Airtel Payments Bank’s differentiated banking model that leverages the vast network of neighborhood Airtel retail outlets, which take convenient digital banking closer to the customer, India’s largest telco in a statement said.

The bank allows customers to open an account in less than 3 minutes, with Aadhaar-based verification, and as per the telco, consumers would get an interest rate of 7.25% on savings deposits.

Airtel Payments Bank allows cashless payments to more than 10 lakh merchants throughout the country.

"We aim to take the banking closer to every Indian. Our simple and very convenient banking model that leverages Airtel’s vast retail network will add a new dimension to the way India banks and contribute to financial inclusion in the country,” Shashi Arora, chief executive, Airtel Payments Bank India said.

airtel payments bank tvc goes on air during india-england t-20 series, Telecom News, ET Telecom

 

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Airtel Payments Bank opens over 1 lakh accounts in UP

Airtel Payments Bank today said it has opened over one lakh savings accounts in Uttar Pradesh within the first two weeks of its launch in the state.

"We have opened one lakh savings accounts in the first two weeks. Appoximately 60 per cent of these accounts have been opened in rural areas, underlining the massive scope for serving customers, particularly in unbanked and underbanked pockets of the state," Airtel Payments Bank MD and CEO Shashi Arora told reporters here.

In Uttar Pradesh over 12,000 neighbourhood Airtel retail stores will also function as banking points, and customers will be able to open savings accounts, deposit and withdraw cash across any of these banking points, he said.

Nearly two-thirds of these banking points across the state are in rural areas, helping in extending the reach of services to unbanked regions.

"We are delighted with the response received from the customers in UP and look forward to building on this momentum and serve even more customers in the days to come", the CEO said.

Bharti Airtel was among the 11 entities that bagged in-principle approval from RBI in 2015 to launch payments banks. It rolled out payment bank services on pilot basis in Rajasthan, followed with Andhra Pradesh and Telangana last year.

Payments banks can accept deposits from individuals and small businesses up to a maximum of Rs 1 lakh per account.

Airtel Payments Bank opens over 1 lakh accounts in UP

 

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Over 1 lakh SB accounts opened in TN: Airtel Payments Bank

Airtel Payments Bank, offered by telecom major Bharti Airtel, announced that over one lakh savings accounts were opened in 100 villages across Tamil Nadu.

Through the initiative, the villages would have access to banking services along with the option of making digital payments, a company statement said here.

“We are delighted to have taken formal banking services to these remote rural pockets of Tamil Nadu. We are fully committed to the vision of Digital India and financial inclusion,” MD and CEO of Airtel Payments Bank, Shashi Arora said.

Till date, over one lakh savings accounts have been opened with Airtel Payments Bank across Tamil Nadu. A network of over 16,000 neighbourhood Airtel stores offer banking services.

By launching the service, Airtel Payments Bank will not charge any processing fee from its customers and merchant partners for digital transactions.

Airtel Payments Bank, which was the first payments bank to go live, has committed investment of Rs 3,000 crore countrywide and plans to build digital payments with over five million merchants.

Payment Banks accept deposits from individuals and small businesses up to a maximum of Rs 1 lakh per account.

Over 1 lakh SB accounts opened in TN: Airtel Payments Bank - The Hindu