Over 1 lakh SB accounts opened in TN: Airtel Payments Bank

Airtel Payments Bank, offered by telecom major Bharti Airtel, today announced that over one lakh savings accounts were opened in 100 villages across Tamil Nadu.

Through the initiative, the villages would have access to banking services along with the option of making digital payments, a company statement said here.

"We are delighted to have taken formal banking services to these remote rural pockets of Tamil Nadu. We are fully committed to the vision of Digital India and financial inclusion," MD and CEO of Airtel Payments Bank, Shashi Arora said.

Till date, over one lakh savings accounts have been opened with Airtel Payments Bank across Tamil Nadu. A network of over 16,000 neighbourhood Airtel stores offer banking services.

By launching the service, Airtel Payments Bank will not charge any processing fee from its customers and merchant partners for digital transactions.

Airtel Payments Bank, which was the first payments bank to go live, has committed investment of Rs 3,000 crore countrywide and plans to build digital payments with over five million merchants.

Payment Banks accept deposits from individuals and small businesses up to a maximum of Rs 1 lakh per account.