Airtel Payments Bank gets RBI, UIDAI taking new customer

 

“Airtel Payments Bank has received requisite approvals from the Reserve Bank of India to start on-boarding new customers”.Aadhaar-issuing authority UIDAI has allowed it to use the 12-digit unique identification number-based e-KYC, it said in a statement.

UIDAI, in March this year, restored Airtel’s authorisation to conduct Aadhaar-based verification of its mobile subscribers, but did not lift the suspension on its payments banks’ e-KYC licence.

It can accept deposits of up to Rs 1 lakh, offer remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking and third party fund transfers but cannot advance loans or issue credit cards.

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