Airtel Payments Bank has finally received its requisite approvals from the Reserve Bank of India (RBI) to start its new customer enrolments.
The Aadhaar issuing authority Unique Identification Authority of India (UIDAI) has permitted the Airtel Payments Bank to use 12 digit unique numbers for e-KYC.
The development has come nearly seven months after the Payments Bank was speculated to be allegedly invol ved in opening of accounts in the payments banks of its mobile subscribers without taking their consent and also deposited LPG subsidy worth crores into the users’ accounts.
Post the fiasco, the RBI directed the bank to immediately enrolment of any news customers and UIDAI suspended the e-KYC licence of both Airtel and its Payments bank.
The telecom brand, however, denied its involvement in any wrong doing and streamlined its processes to comply with the regulations.
In March this year, UIDAI restored Airtel’s authorisation to conduct Aadhaar-based verification of its mobile subscribers, but the suspension on its payments banks’ e-KYC licence wasn’t revoked.
“Airtel Payments Bank has received requisite approvals from the Reserve Bank of India to start on-boarding new customers,” said Airtel’s official statement.