In a communication to the employees, Airtel Payments Bank Chief Executive Officer Anubrata Biswas has said over the last four years, the bank has grown rapidly, doubling every 18 months.
The pandemic and subsequent lockdown curbs fuelled uptake as both rural and urban customers sought banking solutions closer home, opting for convenient and secure digital payment options.
Airtel Payments Bank on Monday announced that customers with savings account deposits of over Rs 1 lakh will get an increased interest rate of 6 per cent per annum.
The move follows Airtel Payments Bank becoming the first payments bank to implement an enhanced day-end savings limit of Rs 2 lakh, as per the Reserve Bank of India guidelines.
Airtel Payments Bank Managing Director and CEO Shashi Arora has resigned in the wake of the firm's eKYC licence suspension by Aadhaar-issuing body UIDAI.
The Aadhaar-issuing body UIDAI today allowed Bharti Airtel to conduct eKYC verification for its telecom subscribers till January 10 with stiff riders but maintained its 'suspension' order.
Airtel allegedly opened accounts of its mobile phone subscribers without seeking their "informed consent", and LPG subsidy worth crores was being deposited to these accounts.
The official said that as of end of November, a total of Rs 167.77 crore of subsidy was transferred to accounts in Airtel Payment Bank.