Airtel Payments Bank designated as scheduled bank

The Reserve Bank of India (RBI) on Tuesday said Airtel Payments Bank Ltd. has been included in the Second Schedule to the Reserve Bank of India Act, 1934 which means it has been categorised as a Sched

The Reserve Bank of India (RBI) on Tuesday said Airtel Payments Bank Ltd. has been included in the Second Schedule to the Reserve Bank of India Act, 1934 which means it has been categorised as a Scheduled Bank.

With this, the bank can now pitch for government-issued Requests for Proposals (RFP) and primary auctions and undertake both Central and State Government business participating in government-operated welfare schemes.

“This status is an important milestone in our growth journey and will further reinforce the trust our customers have placed with the bank,” Anubrata Biswas, MD & CEO, Airtel Payments Bank said.