Airtel Payments Bank, with its headquarters in New Delhi, India, is a public limited liability company. The company is a Bharti Airtel affiliate. It is the first company in India to obtain a Reserve Bank of India payment bank license and became the country’s first live payment bank. On 11 April 2016, the Reserve Bank of India granted a license to the Airtel Payments Bank under Section 22(1) of the Banking Regulation Act, 1949. Airtel Payments Bank is a Bharti Airtel Ltd. and Kotak Mahindra Bank Ltd. joint venture. Kotak Mahindra Bank holds an Airtel Payments Bank interest of 19.9 percent.
Airtel Payment Bank Company Profile
- Name of Company: Airtel Payment Bank
- Company Type: Public
- Industry of this company: Financial Services
- Year Company was Founded: 2017
- Founder of this company: Anubrata Biswas (MD, CEO)
- Headquarters: New Delhi, India
- Main Leaders in this company: Anubrata Biswas (MD, CEO)
- Subsidiaries: YTS Solutions Pvt. Ltd.
As India’s first Payments Bank, we aim to offer fair, reliable, and trustworthy banking experience to every Indian.
In January 2017, Bharti Airtel, India’s biggest telecommunications provider, launched Airtel Payments Bank to support the cashless revolution promised by the Government of India.
The Airtel Payments Bank is a differentiated bank that provides its customers with critical financial services. Our goods are constructed as a solution to the problems presented by conventional banking, from long queues to endless paperwork to inconvenient travel, in order to address the needs of the underserved and unbanked population in the nation. We plan to make it easier, more convenient, and more intuitive for banking.
In 2015, under the Licensing of Payments Bank Guidelines, eleven companies obtained In-Principle approval from the Reserve Bank of India to set up a payment bank. One of them was Airtel and, in September 2016, it opened Airtel Payments Bank. With its pilot project in Rajasthan in November 2016, Airtel’s first payment bank went online.
All Customer Care details of Airtel Payment Bank
- Customer Care Number of Airtel Payment Bank: 8800688006
- Support Email Id of Airtel Payment Bank: email@example.com
- Office Address of Airtel Payment Bank: Tower A, Plot No-16, Udyog Vihar Industrial Area Phase 4, Gurugram, Haryana – 122015
- Facebook Id of Airtel Payment Bank (Can be Used for support): https://www.facebook.com/AirtelPaymentsBank/
- Twitter Id of Airtel Payment Bank: https://twitter.com/airtelbank
- Official Site of Airtel Payment Bank: https://www.airtel.in/bank/
- Instagram Account of Airtel Payment Bank: https://www.instagram.com/airtelpaymentsbank/?hl=en
- Youtube Account of Airtel Payment Bank: https://www.youtube.com/user/INAirtel
The capital of the bank was ~3,000 crore ($441 million) at its formation. At the end of the financial year ended 31 March 2017, which was its first year of operation, Airtel Payments Bank registered deposits of ~68.33 crores.
Airtel Payments Bank launched UPI in September 2017, allowing digital payments to enable safe digital payments. Before they can make UPI payments, clients need to connect their bank accounts to BHIM. Customers are not required to furnish their bank details for UPI-based payments and transfers to allow transactions.
Airtel Money is an Airtel Payment Bank digital wallet that enables users to use “My Airtel app” or USSD to make payments.
In July 2019, Bharti AXA General Insurance partnered with Airtel Payments Bank. In August 2018, Airtel Payments Bank and Bharti Axa Life Insurance began selling the government’s Pradhan Mantri Jeevan Jyoti Bima Yojana insurance scheme. In 2019, through its website, Airtel Payments Bank started offering Atal Pension Yojana (a Government of India initiative).