Airtel Opens Payments Bank In Karnataka

Airtel Thursday launched its Payments Bank services in Karnataka, making it the fourth state after Rajasthan, Andhra Pradesh and Telengana to have this new age banking services.

Airtel is the first company to launch the payments bank in the country and hass so far more than 100,000 savings account holders in just one state -Rajasthan.

Airtel Payments Bank offers basic banking services to customers by leveraging Airtel’s vast retail network and taking basic banking services to the doorstep of customers via neighborhood Airtel retailers. In Karnataka, Airtel Payments Bank is rolling out pilot services across 12,000 Airtel retail outlets, which also acts as banking points. 70 % of these banking points are in rural areas, thereby driving financial inclusion and reaching unbanked/underbanked areas.

Customers will now be able to open bank accounts at any of the designated Airtel retail outlets and enjoy a host of convenient banking services. Customers opening a savings account with Airtel Payments Bank will also get one minute of Airtel mobile talk time for every Rupee deposited. For e.g. if a customer opens an account with a deposit of Rs 500 then he/she will get 500 minutes of free talk time for calls to anywhere in India on his/her Airtel mobile number

“The mobile phone has emerged as a powerful device to drive financial inclusion and advance cashless transactions in the country. Evolving financial inclusion for the citizens, Airtel Payments Bank will accelerate as a significant banking partner in taking digital banking experience to the rural citizens. I invite the citizens of Karnataka to embrace digital economy and wish that the unbanked make use of the occasion to adopt digital payments. I look forward to a successful transition to digital banking,” said Siddaramaiah Hon’ble Chief Minister of Government of Karnataka, .

Shashi Arora, MD & CEO – Airtel Payments Bank said, “We are pleased to rollout our pilot service in Karnataka and look forward to serving customers and contributing the financial inclusion vision of the two states. We have received an extremely positive response from customers in Rajasthan and would like to replicate the same in Karnataka before we rollout our services nationally.”

Airtel Payments Bank is a fully digital and paperless bank and customers can access services over their mobile phones, including all feature/basic mobile phones.

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