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    Payment Banks

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    harshul yadav
    Airtel Payments Bank became India's first payments bank in 2016. It is majority owned by Bharti Airtel and aims to promote financial inclusion. It offers savings accounts, insurance, remittances and other services through a large network of retail outlets. While it reported losses initially, it became profitable in 2021.

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    Payment Banks

    Uploaded by

    harshul yadav
    25 views8 pages
    Airtel Payments Bank became India's first payments bank in 2016. It is majority owned by Bharti Airtel and aims to promote financial inclusion. It offers savings accounts, insurance, remittances and other services through a large network of retail outlets. While it reported losses initially, it became profitable in 2021.

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    Airtel Payments Bank became India's first payments bank in 2016. It is majority owned by Bharti Airtel and aims to promote financial inclusion. It offers savings accounts, insurance, remittances and other services through a large network of retail outlets. While it reported losses initially, it became profitable in 2021.

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    © All Rights Reserved
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    Download as pptx, pdf, or txt
    25 views8 pages

    Payment Banks

    Uploaded by

    harshul yadav
    Airtel Payments Bank became India's first payments bank in 2016. It is majority owned by Bharti Airtel and aims to promote financial inclusion. It offers savings accounts, insurance, remittances and other services through a large network of retail outlets. While it reported losses initially, it became profitable in 2021.

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    Airtel Payment Banks

    Harshul Kumar (M23MS503)


    Airtel Payments Banks

     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
     Airtel Payments Bank started with an 80:20 partnership between
    Bharti Airtel and Kotak Mahindra Bank.
     The main motive of Airtel payment bank is to fulfil the aim of financial
    inclusion and banking for all.
     Airtel payment bank is the first payment bank to go live in the country
     Bharti Airtel launched Airtel Payments Bank in September 2016 and went
    live with its pilot project in Rajasthan in November 2016
     It was launched nationally in January 2017 to support the cashless
    revolution promised by the Government of India.
    2
    Airtel Payments Banks
     In August 2021, Kotak Mahindra sold its stake to Bharti Enterprises. As on
    31 December 2021, 99.9% equity capital of the Bank is owned by the
    Bharti Group of Companies. The bank turned profitable in the quarter
    ended 30 September 2021, with an annual revenue run rate of Rs 1,000
    crore
     The Bank's capital at its establishment was Rs 3,000 crore

    3
    Airtel Payments Bank
    Financials
    ● In 2018–19, Airtel Payments Bank reported a loss of ₹338 crore
    ● loss of ₹272 crore in the financial year 2017–18
    ● In FY 20, its revenues rose 87% to ₹474 crore
    ● It turned profitable in the quarter ended September 2021
    ● In December 2021, money deposited with Airtel Payments Bank surged 75 per cent to Rs
    1,000 crore

    4
    Airtel Payments Bank

    Services
    ● Digital payments
    ● FASTag
    ● Airtel Safe Pay
    ● Insurance and pension
    ● Remittance and AEPS service
    ● DigiGold
    5
    Key Features
     Personal Accidental Insurance of Rs. 1 lakh with every savings account.
     Wide Network: Airtel payment bank provides easy deposits and withdrawal facility across a wide
    network of Airtel retail outlets.
     Banking Points for cash deposits/withdrawals: For encouraging people to deposit money in Airtel
    Payment banks, Airtel has announced new offer in which Airtel will provide free talk time on their Airtel
    number with deposit/withdrawal of one rupee in their account.
     Interest Rate: Airtel payment bank is offering interest rate of 7.25% on their savings account to all the
    people, which is highest rate of interest compared to other banks.
     Transaction limit: Airtel payment bank allows the user to transact amount up to 1 lakh, while other
    payment apps have the limit up to Rs. 20000.
     Free talk time: As discussed earlier, Airtel payment bank provides free talk time of one minute for every
    one rupee of deposit and withdrawal of money.
     Accidental insurance: Another benefit of Airtel payment bank is that it offers accidental insurance of Rs.
    1 lakh, while other payment apps do not provide this facility.
     Works on all handsets: Airtel payment banks collaborate with all set of handsets i.e. android or simple
    handset. While other payment banks does not provide facilities on all handsets.

    6
    Legal challenges
     The Unique Identification Authority of India (UIDAI)
    suspended Bharti Airtel and Airtel Payment Bank's licence
    for e-KYC of Aadhar on 16 December 2017, following
    complaints from customers that their accounts were being
    opened without their consent. Some even received their
    LPG subsidies in their Airtel Payment Bank accounts.
     However, on 12 July 2018, Airtel Payments Bank received
    requisite approvals from the Reserved Bank of India
    and Unique Identification Authority of India (UIDAI) to
    resume on-boarding new customers using of Aadhaar-based
    e-KYC
    7
    8

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