11/27/2022 0 Comments Airtel 4g dongle online paymentOne can use this service even without a data connection. With this technology, one can communicate with the service provider’s computer in a way which is akin to online chatting. The Airtel Money works on USSD technology. It is a joint venture between the Bharti Airtel Ltd and Kotak Mahindra Bank Limited, with Kotak holding 19.9% stake in the Airtel Payments Bank.Īirtel Money is a digital wallet by Airtel Payments Bank which allows the users to make payments using the “My Airtel App’ or USSD.īeginning from August 2018, the Airtel Payments Bank and Bharti Axa Life Insurance have started to provide government’s insurance plan Pradhan Mantri Jeevan Jyoti Bima Yojana and in 2019, it even started offering Atal Pension Yojana which is a government of India’s initiative through its platform. The RBI, on April 11, 2016, issued a license under Section 22 (1) of the Banking Regulation Act of 1949 to Airtel Payments Bank. It reported a record deposit of Rs 68.33 crore at the end of the fiscal year 2017, which marked its first year of operation. Airtel Money is expected to help bridge the gap along with other mobile apps and e-wallets.Īirtel Payments Bank was initiated with a capital of Rs 3,000 crore ($441 million). The main aim and objective of the payment bank were to reach out to the unbanked individuals the country who reside mainly in small towns and villages and who do not have absolutely any clue about the banking and other financial transactions. It happens to be the first company in India to receive payments bank license from the Reserve Bank of India (RBI) and it became the first live bank payments in India.Īirtel operates Airtel Money as a flagship product of its subsidiary – Airtel Payments Bank. Airtel Payments Bank is a subsidiary of Bharti Airtel. The Airtel Payments Bank is a public limited company with its headquarters located in New Delhi. Airtel Money is started by the telecom major, Bharti Airtel.
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