Sat, Mar 05, 2022
The concept of Payments Banks was introduced by the RBI in 2015. The idea behind this concept was to give banking license to fintech companies and provide banking services to the underserved population of India. Here is all you need to know about a Payments Bank.
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Thu, Apr 08, 2021
With an aim to boost digital payments in the country, the Reserve Bank of India on Thursday has increased the limit of maximum end of day balance for Payments Banks (PBs) to Rs 2 lakh. The earlier limit allowed by the RBI was Rs 1 lakh.
Wed, Nov 22, 2017
Airtel Payments Bank will now get access to over 10 crore Hike users who will then be able to use its payments banking facilities.
Thu, Jun 02, 2016
The Union Cabinet on Wednesday cleared a proposal to set up India Post Payments Bank with a corpus of Rs 800 crore and has plans to have 650 branches operational by September 2017.
Wed, Jun 01, 2016
India Post has plans to set up 650 branches of postal payments bank in one year.
The Minister said the payments bank, which will be run by Chief Executive Officer, will be professionally managed and there will be a representation from various other government departments including the Department of Posts, Department of Expenditure, Department of Economic Services, etc.
Mon, May 30, 2016
The payment banks will cater to the needs of small savings accounts, remittance services, low income households, small businesses and other unorganised sector entities.
Wed, May 25, 2016
Tech Mahindra became the latest and the third payments bank contender to drop out of the race, the second one in less than a week. It was only a few days ago that Dilip Sanghvi dropped the idea of setting up the bank, in partnership with IDFC Bank and Telenor.
Tue, May 24, 2016
Alibaba-backed Paytm, Reliance Industries and Airtel would have been Tech Mahindra's major competitors.
Mon, May 23, 2016
Earlier this month, the RBI issued draft guidelines for issuing on-tap universal bank licences.
"We are going to start the postal payments bank by March 2017. Very soon we will go to the Cabinet and postal payments bank will become operational from March 2017," Prasad told reporters.
Sat, May 21, 2016
Sun Pharmaceutical's Dilip Sanghavi who was in the race to set up a Payments Bank in partnership with IDFC Bank and Telenor, has now withdrawn his application. This is the second entity after Cholamandalam Finance to reconsider its decision of setting up a payments bank.
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