Arun Jaitley launches Airtel Payments Bank; Commits investment of Rs 3,000 Cr

Airtel Payments Bank, India’s first payments bank was launched by union minister of finance and corporate affairs Arun Jaitley nationally, and is now live in all 29 States of India.

Also present on the occasion were Sunil Bharti Mittal, chairman, Bharti Enterprises; Uday Kotak, executive vice chairman & MD, Kotak Mahindra Bank; Gopal Vittal, MD & CEO (India & South Asia), Bharti Airtel; and Shashi Arora, MD & CEO, Airtel Payments Bank.  

Airtel Payments Bank will commit an initial investment of Rs 3,000 crores to develop a pan India banking network and digital payments ecosystem for IT, manpower, marketing and distribution.  


Speaking on the occasion, Sunil Bharti Mittal said, “Just like mobile telephony leapfrogged traditional telecom networks to take affordable telecom services deep into the country, Airtel Payments Bank aims to take digital banking services to the unbanked over their mobile phones in a quick and efficient manner. Millions of Indians in rural areas will get their first formal banking experience with Airtel Payments Bank.”Read More

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