RBI: Airtel Payments Bank gets scheduled bank status 2022

Airtel Payments Bank has been categorised as a scheduled bank by the Reserve Bank of India (RBI) in the second schedule of the Reserve Bank of India Act, 1934. With this, Airtel Payments Bank can now pitch for the government. Airtel Payments Bank is among the fastest-growing digital banks in the country, with a base of 115 million users. It offers a suite of digital solutions through the Airtel Thanks app and a retail network of over 500,000 neighbourhood banking points. The bank turned profitable in the quarter ended September 2021.

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Important takeaways for all competitive exams:

• Airtel Payments Bank’s MD and CEO: Nubrata Biswas.
• Airtel Payments Bank Headquarters: New Delhi.
• Airtel Payments Bank Founded: January 2017.

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