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Aditya Birla Payments Bank Limited (ABPB) was a payments bank started as a joint venture by Aditya Birla Nuvo Ltd. and Idea Cellular. [1] Launched on 22 February 2018, it is the fourth payments bank to begin operations since issuance of licenses to 11 firms by the Reserve Bank of India in August 2015.
Kumar Mangalam Birla (1967-current), became the chairman of the Aditya Birla Group in 1995, succeeding his late father Aditya Vikram Birla when he was just 28 years old. [ 19 ] [ 20 ] Under his leadership, the group's annual turnover grew from $2 billion in 1995 to $60 billion in 2022.
Aditya Birla Sun Life Insurance Co. Ltd. Private Mumbai: 2000 7: TATA AIA Life Insurance Co. Ltd. Private Mumbai: 2001 8: SBI Life Insurance Co. Ltd. Public Mumbai: 2001 9: Bajaj Allianz Life Insurance Co. Ltd. Private Pune: 2001 10: PNB MetLife India Insurance Co. Ltd. Private Mumbai: 2001 11: Reliance Nippon Life Insurance Company: Private ...
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Paytm Payments Bank and Airtel Payments Bank together command over 88% of the deposits in payment banks in India in 2018. According to the Reserve Bank of India's report on ‘Trend and progress of Banking in India 2017-2018', the payment banks reported losses in the financial year 2017-2018, after a weak performance in the FY 2016-17. [14]
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Aditya Birla Sun Life Insurance was established on August 4, 2000, and began operations in 2001 with three insurance plans. [35] The Insurance Regulatory and Development Authority (IRDA) granted registration in principle to Birla Sun Life. [36] Initially, Sun Life Financial held a 26% stake in this joint venture, [37] and later increased its ...