Airtel to Launch Payments Bank in India in Q2 FY17
Wednesday, May 4, 2016
Bharti Airtel’s mobile commerce subsidiary, Airtel M Commerce Services, has been renamed Airtel Payments Bank. The company plans to launch its payments bank operations in the second quarter of the current fiscal year, it said in a statement on Tuesday.
The new logo reflects its commitment to contribute to the India’s agenda of financial inclusion by taking banking services to the last mile, the company said.
Airtel Payments Bank received a payments bank licence from the Reserve Bank of India (RBI) on April 11, 2016, and plans to start rolling out its banking network in the second quarter of the current financial year.