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Payments banks News

25 Mar 2019

RBI Governor to meet heads of payments banks later this week

As many as seven payments banks have commenced their operations.

India Post Payments Bank

14 Sep 2017

All 1.55 lakh post offices to offer payments bank service

Payments banks can accept deposits of up to Rs 1 lakh per account from individuals and small businesses.

23 May 2017

Paytm to start payments bank operations from today

The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity —— PPBL —— under the payments bank licence awarded to a resident Indian, Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.

Airtel Payments Bank

23 Feb 2017

Airtel Payments Bank to sell insurance, MF products

Airtel Payments Bank (APB) is planning to sell third party financial products to boost its revenue from other income category, an official said.

30 Jan 2017

Payments banks can pose challenge to traditional banks due to lower cost: FM Jaitley

Jaitley said that about 650 India Post Payments Bank branches will be opened by September this year and that will have a multiplier impact as far as banking in India is concerned.

26 Nov 2016

Paytm goes live with PoS service; rules out interest rate war with payments bank

Online payments company Paytm has gone live with its point-of-sale (PoS) offering again, Founder and Chief Executive Vijay Shekhar Sharma on Saturday said, two days after taking the service off due to security concerns.

06 Oct 2016

RBI issues guidelines for Payment, Small Finance Banks

Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.

29 Aug 2016

Ratan Tata, Nandan Nilekani to set up microfinance firm Avanti Finance

Ratan Tata, Nandan Nilekani and Vijay Kelkar have come together to set up a technology-enabled microfinance entity, Avanti Finance, which will focus on delivering affordable and timely credit to under-served and un-served segments in India.

India Post Payments Bank

18 Aug 2016

India Post Payments Bank incorporated, to start ops in 2017

India Post Payments Bank has come into existence after it received certificate of incorporation from the Registrar of Companies, setting the stage for the new bank to begin operations in 2017.

29 Nov 2015

Payments banks no threat to current banking giants: Report

Payments banks have a very limited scope of services to offer customers and will particularly not have access to sticky low cost deposits which the traditional banks have along with capacity to lend.

02 Oct 2015

Government to register postal bank by year end

The government is likely to register the postal bank by the end of the year while a pilot for payment services will be launched around January 2017.

02 Sep 2015

Infosys launches solutions for small finance, payments banks

The two products -- Finacle Payments Bank and Finacle Small Finance Bank solutions -- are part of EdgeVerve Systems, the product subsidiary of Infosys, the country's second largest software services firm.

30 Aug 2015

Payments banks Rs 14 lakh cr bonanza for infra sector

Payments banks can annually free up a whopping Rs 14 trillion in incremental credit for the fund-starved infrastructure sector, says a SBI Research report.

24 Aug 2015

Payments banks could make banking sector be a 'dog-eat-dog' market: SBI chief

State Bank of India (SBI) chief Arundhati Bhattacharya Monday again expressed fears over the entry of payments banks, saying they are agile and have an edge as they are not bound by industry-level wage agreements which can lead to 'a dog-eat-dog's world'.

21 Aug 2015

SBI developing low-cost model to counter payments banks

Country's largest commercial banking entity State Bank of India (SBI) is now developing a low-cost model to compete with payments banks.

21 Aug 2015

Payments bank licence to leverage telecom, retail biz: RIL

RIL on Friday said the payments bank licence will "leverage" its telecom business Reliance Jio's pan-India network and retail arm's model, even as its tie-up with SBI will help create the most extensive distribution network in India.

20 Aug 2015

Payments banks may ring in better days for insurers, MFs

Insurers and fund houses see payments banks (PBs) as a boon for the sector as opportunities of cross-sell would help deepen their reach in rural areas.

20 Aug 2015

Payments banks to strengthen financial ecosystem: Kochhar

With RBI announcing 11 licences for payments banks, top private sector lender ICICI Bank on Thursday said the entry of these new entities would strengthen the overall financial ecosystem and also benefit existing banks.

20 Aug 2015

Payments banks pose risk to public lenders market share: Fitch

The proposed Payments Banks will increase competition for the public sector lenders and could also pose risks to their market share over the long-term, Fitch Ratings said Thursday.

20 Aug 2015

India Post says open to partnerships for payments bank

Having secured RBI's nod to set up a payments bank, the Department of Posts has said it is open for partnership in this new venture and is in talks with some telecom companies.

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