Airtel Payments Bank announces additional benefit on savings deposits

Airtel Payments Bank has rolled out pilot services in Rajasthan with the objective of testing its systems and processes ahead of full scale pan-India launch.

Customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail outlets, which will also act as Airtel banking points and offer a range of basic, convenient banking services.

Airtel Payments Bank will commence the pilot with banking points at 10,000 Airtel retail outlets. 

Shashi Arora, MD & CEO, Airtel Payments Bank said, “We are leveraging Airtel’s telecom ecosystem to bring banking services to the doorsteps of every Indian. We are confident that this additional benefit along with the industry-best interest rate on deposits will encourage customers to open accounts with us and give a big boost to customer acquisition. We are also undertaking a massive drive to enroll over one lakh merchants in Rajasthan by the year-end, who will not be charged anything for accepting digital payments from Airtel Payments Bank customers. We believe this will boost the digital payments ecosystem hugely and reduce dependence on cash”