RBI Gives Scheduled Bank Status to Airtel Payments Bank

RBI Gives Scheduled Bank Status to Airtel Payments Bank

• The Reserve Bank of India (RBI) has included Airtel Payment Bank in the ‘Second Schedule to the Reserve Bank of India Act, 1934’ on January 04, 2022.
• This means that Airtel Payments Bank has now been categorised as ”Scheduled Commercial Bank”.
• The Airtel Payments Bank can now bid for government-issued Requests for Proposals (RFPs) and primary auctions.
• It can also undertake both central and state government business, and participate in government-run welfare schemes.

Source: Business Standard

Points to Remember:

1. Which Payments Bank has received the status of scheduled bank in January 2022?
2. Airtel Payments Bank was established in 2017.
3. Headquarter- New Delhi
4. MD & CEO: Anubrata Biswas
5. India Post Payments Bank Limited, Fino Payments Bank Limited and Paytm Payments Bank Limited are other Scheduled Payments Banks.