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Airtel Payments Bank is an Indian payments bank with its headquarters in New Delhi. [3] The company is a subsidiary of Bharti Airtel . [ 4 ] On 5 January 2022, it was granted the scheduled bank status by the Reserve Bank of India under the second schedule of RBI Act, 1934 .
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]
Payment banks (currently five banks Airtel Payments Bank, Fino Payments Bank, India Post Payments Bank, NSDL Payments Bank, Jio Payments Bank,Paytm Payments Bank(Paytm payment Bank restricted to deposit money in 2024) have been granted Scheduled bank status). [3] [4] Scheduled Co-operative banks are further divided into 2 types namely:
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With this, Airtel further consolidated its position as the second largest mobile operator in Uganda with a combined customer base of over 7.4 million and market share of over 39 percent cementing its position as the number 2 mobile telephone network, behind market leader MTN Uganda. [5] In 2018, Airtel hit the 10 million customer mark. [6]
It then partnered with the State Bank of India and incorporated Jio Payments Bank Limited in November 2016. Jio Payments Bank Limited is a 77:23 partnership between Reliance Industries and the State Bank of India. [1] On November 10, 2016, it registered as a public limited company to set up a payments bank. On April 3, 2018, Jio Payments Bank ...
Bharti Telecom (BTL), is a holding company of Bharti Airtel with Bharti Enterprises and SingTel owning 50.56 percent and 49.44 percent, respectively, in BTL, which in turn owns 35.80 percent of Bharti Airtel. [7] Bharti Airtel is the third largest mobile operator in the world, in subscriber base, and has a presence across 18 countries. [8]