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.
Airtel deposits 'interim penalty' of Rs 2.5 crore with UIDAI for opening payments bank account without subscribers' consent
The company is learnt to have given the assurance that it will return Rs 190 crore that had flown into the 'unsolicited' payments bank accounts of 31 lakh mobile subscribers over the next 24 hours.
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.