New Delhi: Airtel Payments Bank on Tuesday said it has been classified as a scheduled bank by the Reserve Bank of India (RBI).
With this, Airtel Payments Bank can now pitch for Request for Proposals (RFP) and primary auctions issued by the government and conduct both central and state government businesses, apart from participating in government-run welfare schemes. , it said in a statement.
“In order to give a boost to its rapidly growing digital banking footprint, Airtel Payments Bank has been classified as a Scheduled Bank by the Reserve Bank of India,” it said.
Airtel Payments Bank is one of the fastest growing digital banks in the country with a base of 115 million users. It offers a suite of digital solutions through the Airtel Thanks app and a retail network of over 500,000 neighborhood banking points
The bank turned profitable in the quarter ended September 2021.
“We are grateful to the Reserve Bank of India for adding us to the list of scheduled banks,” said Anubrata Biswas, CEO, Airtel Payments Bank.
Biswas said, “This positioning is an important milestone in our growth journey and will further strengthen the trust of our customers with the bank.”
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