Infocomm Infocomm
24th NBFC100 TECH SUMMIT AWARDS 24th NBFC100 TECH SUMMIT AWARDS
BFSI AI SUMMIT BFSI AI SUMMIT
Home Regulators RBI SEBI TechINFRA Security Data Centre Cloud Services Government Reforms DBT Aadhaar GST Payments Payment Gateways ATM Point of Sale Payment Wallets Fintech Apps Banks Public Sector Private Sector Cooperative NBFCs Year Ender Magazine Magazine Subscription Articles Interviews Webinars Webinar Videos Video Series — Innovation Talk Upcoming Initiatives BFSI Events About Us Contact Us

Aditya Birla Group bags RBI nod for its Payments Bank


Aditya Birla Idea Payments Bank has received the final licence from the Reserve Bank of India (RBI) to set up its Payments Bank services.

It is the seventh entity to receive nod from the RBI to set up a payments bank, reported the LiveMint.

AdvertisementElets BFSI AI Summit & Awards, Mumbai

Except Vodafone M-Pesa Ltd, all payment bank licence holders have already received the final approval from the central bank. Last week RBI granted a final licence to Fino Pay Tech Ltd and National Securities Depository Ltd.
Among payment bank licence holders, two entities namely Airtel Payments Bank and India Post Payments Bank (IPPB) have started operations so far. While Airtel is offering 7.25 per cent interest in its savings account, IPPB is offering three types of accounts where interest rates will vary from 4.5-5.5 per cent.

AdvertisementSAAS

Aditya Birla Idea Payments Bank is a 51:49 joint venture (JV) between Aditya Birla Nuvo Ltd (ABNL) and telecom major Idea Cellular.

The RBI initially gave in-principle approval to 11 entities to start payments bank operations in August 2015. Out of them, Tech Mahindra, Cholamandalam Investment and Finance Company and a consortium of Dilip Shanghvi, IDFC Bank and Telenor Financial Services have backtracked on their payments bank plans.

AdvertisementInfoComm India 2026

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram.

Our Coverage of Banks

City Union Bank Q2 FY27 Profit Rises 27% to ₹416 Crore as NII Jumps 31%; NIM Improves to 3.87%, Net NPA Falls to 0.48%

City Union Bank has reported a 27 per cent year-on-year rise in net profit to ₹416 crore for… Read more →

Karnataka Bank Q2 FY27 Profit Rises 37% to ₹435.89 Crore as NII Jumps 35%; Aggregate Business Hits Record ₹2.07 Lakh Crore

Karnataka Bank has reported a 36.6 per cent year-on-year rise in net profit to ₹435.89 crore for the… Read more →

Bandhan Bank Q2 FY27 Profit Jumps Over Five-Fold to ₹622 Crore as Provisions Fall; GNPA Eases to 3.1%

Bandhan Bank reported a net profit of ₹622 crore for the second quarter of FY27 (July–September 2026), more… Read more →

Credit Card Additions Hit 1.26 Million in September, Second-Highest of 2026; HDFC Bank and Axis Bank Lead

India's credit card issuers stepped up acquisitions ahead of the peak festive season, adding a net 1.26 million… Read more →

Banking System Liquidity Surplus Shrinks to ₹46,200 Crore as RBI Keeps Cash Tight to Defend the Rupee

The cash cushion that Indian banks built up over the summer is thinning out fast. Surplus liquidity in… Read more →

First Abu Dhabi Bank Scouts for an Indian Bank Buy; Bandhan Bank Denies Any Acquisition Talks

Bandhan Bank has firmly rejected market speculation linking it to a possible acquisition by First Abu Dhabi Bank… Read more →

whatsapp--v1