Airtel Payment Bank becomes a Scheduled Bank

Tags: Economics/Business

Reserve Bank of India has accorded a scheduled bank status to the Airtel Payment Bank in India.

•  It means that the Airtel Payment Bank can now participate in the Central government and State government business, participate in the auctioning of government bonds in the primary market,besides participating in government-operated welfare schemes.

Airtel Payment Bank 

• It is the first Payment bank to be set up in India in 2017. 
• The headquarters of the Airtel Payment Bank: New Delhi.

Other Payment banks in India are India Post Payment Banks, Fino Payment Bank, NSDL payment Bank, Jio Payment Bank ,Paytm Payment Bank .