Which of the following has become the first entity to receive approval from the Reserve Bank of India (RBI) to start a payments bank?
Which of the following has become the first entity to receive approval from the Reserve Bank of India (RBI) to start a payments bank?
[A]Airtel M Commerce Services
[B]Fino Pay Tech
[C]Reliance Industries
[D]Cholamandalam Distribution Services Ltd.
Airtel M Commerce Services
Airtel M Commerce Services Ltd., a subsidiary of Bharti Airtel, has become the first entity to receive final approval from the Reserve Bank of India (RBI) to start a payments bank. The payments banks are not allowed to lend, they have to tie-up with banks will help them source loans for their customers.