Airtel has launched India’s first live payments bank on Wednesday, which would provide an interest of 7.25% per annum on deposits.
Aimed at testing systems and processes ahead of a full-scale pan-Indian launch, Airtel Payments Bank has rolled out a pilot of its banking services in Rajasthan, a company statement said on Wednesday. Airtel Payments Bank is a subsidiary of Bharti Airtel.
It informs that account can be opened with Aadhaar based paperless e-KYC, with no extra documents required and customer’s Airtel mobile number would be his/her bank account number. The company intends to give an interest rate of 7.25% per annum on deposits in savings accounts.