New Delhi, Feb 3 (IANS) Telecom service provider Vodafone India also has jumped onto the bandwagon of payments bank and applied for a licence with the Reserve Bank of India, a company statement said here Tuesday.
"Vodafone has filed an application with Reserve Bank of India (RBI) for the Payments Bank licence. We are exploring options for partnerships. We are keen and remain highly committed to building a financially inclusive business model leveraging our telco strengths and experience in the mobile payments space, fully aligned with the government and RBI’s vision,” the official statement said.
A few top Indian companies, including Reliance Industries Ltd., Aditya Birla Nuvo Limited, Bharti Airtel and Future Group, Monday applied to the RBI for payments bank licences.
Reliance Industries has roped in the State Bank of India (SBI) as an active equity partner as it seeks a licence to extend affordable banking and payments solutions in the country assisted with access to 15,869 branches and vast network of India's largest commercial bank.
Aditya Birla Nuvo Limited (ABNL), promoter and largest shareholder of Idea Cellular, also applied for payments bank licence with the RBI.
The Kishore Biyani-led Future Group also Monday applied for a payments bank licence with the RBI, the banking entity would be called NuFuture Payments Bank.
Last week, Bharti Airtel announced it was teaming up with Kotak Mahindra Bank to apply for payments bank.
The RBI issued guidelines for licensing of payments bank Nov 27, 2014. The apex bank earlier extended the last date for submission of applications to Feb 2.
A payments bank, as defined by the Reserve Bank's draft rules, can accept deposits, both savings and current, up to a maximum of Rs.10,000 initially, with the stated primary role of extending payments and remittance services to small businesses and low-income households.
Besides physical branches, some key facilitators for such services can include ATMs, mobile and internet banking, authorised business correspondents and point-of-sale terminal locations, as in retail stores.
5 reasons for Pakistan's victory: South Africa's fielding is famous, failed in the same... 23-year record is also intact
Pakistan defeated South Africa in the T20 World Cup to keep their hopes of entering the semi-finals alive. Rain also came in the match held at Sydney Cricket Ground on Thursday. Pakistan beat South
My ODI exit closest to a fairytale ending: Clarke
Melbourne, March 29 (IANS) Australian skipper Michael Clarke who bid farewell to One-Day Internationals (ODIs) after his side became the world champions beating New Zealand on Sunday said it is the
Know what's special in Apple's new macOS Big Sur, what new features were included compared to the first
macOS Big Sur is being called an important redesign of the desktop operating system. It also makes several improvements to in-house apps, including Safari. Talking about the second change, macOS Big
Bihar Celebrates Republic Day with Joy
Patna, Jan 26 (IANS) The 66th Republic Day was celebrated across Bihar Monday with joy and enthusiasm amid tight security.Chief Minister Jitan Ram Manjhi hoisted the tricolour in Patna. Despite
Pushpa 2: Sukumar said something interesting before the release of Pushpa 2, Allu Arjun could not stop his tears of joy
South stylish superstar Allu Arjun got emotional when Pushpa 2 director Sukumar praised him at a pre-release event in Hyderabad. On Monday, Allu Arjun and Sukumar attended a promotional event in the
Modi's next radio address to be on farmers
New Delhi, March 12 (IANS) Prime Minister Narendra Modi on Thursday said he will address farmers in his next 'Mann Ki Baat' radio address which will be aired on March 22."On March 22, I will talk
Corona in Uttarakhand: Double mutant virus confirmed in Dehradun, samples were sent to Delhi in March
The coronavirus is taking a fatal form in Uttarakhand. The double mutant virus has been confirmed in Dehradun amid the second wave of Corona. It has confirmed UK strains in two samples and other
The value of the shares of the Mistry family in the Tata group has increased from two crore to two lakh crore in 90 years, but now the relationship is nearing an end
After the separation of the Ambani brothers, the most talked about issue in the country is the ongoing dispute between the Shapoorji Pallonji Group (SP Group) and the Tata Group. The controversy has
Elon Musk's big announcement - parody accounts will be suspended without warning, and you will have to lose a blue tick for changing the name
Since buying Twitter, Elon Musk has been announcing something new every day by tweeting. Through a series of tweets on Sunday too, he said that any Twitter handle found to be engaged in
IND vs PAK: Kohli Rahul's blockbuster show, Kuldeep stole the show with the ball, 5 special things about the historic win over PAK
IND vs. PAK: Under the captaincy of Rohit Sharma, Team India shattered the pride of Pakistan on Monday night. The picture of the Indian team was a super hit in the match played in the Super-4 round of
