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Paytm Gets RBI Licence For Payments Bank

3Jan By NitishNo Comments

News

Paytm Gets RBI Licence For Payments Bank

Today, Reserve Bank of India gave permission to formally launch Paytm Payments Bank. On its blog, Paytm announced this news. However, Airtel is the first company which already start a pilot project of payment bank in Rajasthan. In a statement Paytm said, "At Paytm Payments Bank, our aim is to build a new business model in banking industry, focused on bringing financial services to 100’s of millions of unserved or undeserved Indians." With power of technology and innovation-at-scale, we aim to become a benchmark in world of banking. This is our chance to build something that every Indian can be proud of. No other role or responsibility means as much to me as the privilege of building Paytm Payments Bank, and I intend to take a full-time executive role in the Bank. Earlier today,...

Airtel Payments Bank Rolls Out Pilot in Andhra, Telangana

14Dec By PriyankaNo Comments

News

Airtel Payments Bank Rolls Out Pilot in Andhra, Telangana

After Rajasthan, Airtel Payments Bank has now rolled out pilot services in Andhra Pradesh and Telangana. "In Andhra Pradesh and Telangana, Airtel Payments Bank is rolling out pilot services across 8,000 Airtel retail outlets in Andhra Pradesh and 7,000 outlets in Telangana, which also acts as banking points," it said in a statement. This follows the pilot rollout in Rajasthan, where over 1 lakh customers opened savings accounts in less than two weeks of commencement of services, it added. Airtel Payments Bank is the first payments bank in India to go live. Customers opening a savings account with Airtel Payments Bank will get one minute of Airtel mobile talk time for every rupee deposited. For example, if a customer opens an account with a deposit of Rs 500, then he/she will get 5...

150 Rs War- Idea And Airtel Launched New Plans To Counter Reliance Jio and BSNL

9Dec By NitishNo Comments

BUSINESS

150 Rs War- Idea And Airtel Launched New Plans To Counter Reliance Jio and BSNL

Incumbent telecom operators Bharti Airtel and Idea Cellular today made an attempt to match free 4G service of Reliance Jio by launching two identical schemes offering free calls and limited mobile internet use priced at around Rs 150 and Rs 350 with 28 days validity. To match Jio unlimited calling plan, Airtel and Idea today announced scheme priced at Rs 345 and Rs 348 respectively that will allow their customers to make unlimited calls to any network in the country. Both the companies will provide 1GB of 4G data to customers with 4G mobile phone and 50 MB for non-4G mobile handset users under the plan. At lower amount of Rs 149 and Rs 148 respectively, Airtel and Idea has started offering free calls within their network. Both the companies will provide 300 MB of 4G data to customers...

Airtel Payments Bank opens 10,000+ savings accounts in 2 days

27Nov By NitishNo Comments

News

Airtel Payments Bank opens 10,000+ savings accounts in 2 days

Payments Bank said over 10,000 customers have opened savings accounts with it within two days of going live with a pilot project in Rajasthan. Majority of these accounts have been opened by customers in semi-urban and rural areas, underlining the potential for growth of banking services in such areas, Airtel Payments Bank said in a statement. Last week, Airtel Payments Bank became the first Payments Bank to go live in the country with the rollout of pilot services in Rajasthan. "We are offering the highest interest rate on savings account deposits in the country along with personal insurance of Rs 1 lakh and may look at sweetening the value proposition further and introduce more benefits in the coming days to accelerate the onboarding," Shashi Arora, MD and CEO, Airtel Payments Ba...

Airtel Pips Paytm, Launched First Airtel Payments Bank in Rajasthan

23Nov By AdityaNo Comments

News

Airtel Pips Paytm, Launched First Airtel Payments Bank in Rajasthan

Sunil Mittal Led Bharti airtel launched first payment bank in Rajasthan on pilot project basis. The branch will be a testing point before full-scale pan-India launch, company statement in a press release. The bank known as "Airtel Payments Bank" will offer interest rate of 7.25 percent per annum on deposits in savings accounts. The company said 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 banking services. "With this, Airtel Bank becomes the first payments bank in the country to go live. Airtel Bank will commence the pilot with banking points at 10,000 Airtel retail outlets (in Rajasthan)," the statement added. "Airtel Bank plans to expand it...

2Oct By reutersNo Comments

INDIA

India Gets $8 Billion Worth Telecoms Spectrum Bids on Auction’s First Day

India started its biggest ever telecoms airwaves auction on Saturday, receiving 535.31 billion rupees ($8.04 billion) worth of bids on the first day of the sale, a senior government official said. Market leaders Bharti Airtel Ltd, Vodafone's local unit and Idea Cellular Ltd are pitted against new entrant Reliance Jio Infocomm Ltd in the battle for airwaves to boost their high-speed data services in what is the world's second-biggest market by mobile phone subscriptions. The total value of the airwaves put on the block is estimated to be worth $84 billion based on the auction reserve price set by the government, although industry executives and analysts expect only part of it to be sold. Data released by the government's Department of Telecom (DoT) at the end of five rounds of bidd...

How Mukesh Ambani’s Reliance Jio Fooled us in the Name of Cheaper Data

17Sep By VishwadeepakNo Comments

Story

How Mukesh Ambani’s Reliance Jio Fooled us in the Name of Cheaper Data

Disclaimer: We got this brilliant analytical piece about newly launched Reliance Jio scheme (of almost free data) from WhatsApp. We are publishing it because it shows the other side – which is obviously not so good - of the so called revolutionary idea, to promote awareness. In the name of fulfilling PM Modi’s dream for Digital India, Reliance used his image in its full page advertisement but the question remains unanswered. How will it help India to be more Digital ? Did Reliance Jio make false promises to make profit? Is Reliance Making the hay while sun is shining? We would like to know the name of the author. If any one can send us, that will be a great help. I must admit that I was euphoric over the Reliance Jio launch. Also, thanks to the media hype, I initially b...

Airtel Too Offers More Interconnect Points to Reliance Jio

14Sep By NitishNo Comments

News

Airtel Too Offers More Interconnect Points to Reliance Jio

After Idea, Bharti Airtel today also agreed to provide additional interconnect points to Reliance Jio, saying these ports will be sufficient to support 15 million customers of the new operator. "Airtel has been providing PoIs to Jio, well ahead of the commencement of its commercial operations. With the latest augmentation, the total number of PoIs will become 3 times the present number of PoIs," Airtel said in a statement. Reliance Jio -- which commercially launched its services on September 5 -- has accused incumbent players of not releasing sufficient inter-connection ports and had sought legal action against them. RIL chairman Mukesh Ambani, on September 1, alleged that Jio network had suffered 5 crore call failures in the preceding week due to inter-connectivity issues. The mov...

This is How Mukesh Ambani’s Reliance Jio Will Make Money

4Sep By AnkitaNo Comments

Story

This is How Mukesh Ambani’s Reliance Jio Will Make Money

16th July 2016: The Indian Telecom Market - Basic Facts There are 100 crores of mobile users in India (1 billion). This means 80% of India is connected to mobile phones (voice calling) However, only 34% of India’s population is connected to the internet. Among those using mobile phones, only 10% use 3G data or above. If you were a telecom company, you would realize that there isn’t going to be a lot of movement in voice now. This is because almost all people have mobile phones. The next big challenge is the internet. Future lies in using data on your mobile phones. Hence, the smartest move now is to invest in building your infrastructure for the future. Here is why nothing else matters - When you have data, you don’t care about messaging. Who really uses SMS after the ...

Telecom War – Reliance Jio Announces Free Voice Calls, Cheaper Data Tariffs

1Sep By AnkitaNo Comments

News

Telecom War – Reliance Jio Announces Free Voice Calls, Cheaper Data Tariffs

Reliance Industries Chairman Mukesh Ambani today announced free voice calling, zero roaming charges and cheaper data tariffs for Jio customers. The company also announced "super-affordable" handsets under the LYF brand starting Rs 2999. Shares of Idea Cellular and Bharti Airtel plunged up to 9 per cent today after RIL Chairman Mukesh Ambani announced free voice calling and cheaper data tariffs for Jio customers. Idea Cellular tanked 9 per cent to Rs 85, its 52-week low on BSE. Shares of Bharti Airtel dropped 8.99 per cent to Rs 302. Ambani further announced that no Jio customer will ever pay for voice calls to any network in India and there will be zero roaming charges. Taking ahead the agenda of enabling a ‘Digital Life for Digital India’, Ambani said that the company w...

CIC Urged RBI To Make Payments Banks as a Members

21Aug By AdityaNo Comments

News

CIC Urged RBI To Make Payments Banks as a Members

Ahead of the commercial launch of payments banks, credit information companies (CICs) have urged RBI to ensure these newbies in the banking space become their members and share data on the transactions. "Payments banks will not be into lending, but the transactions which they undertake will help understand borrowers. Therefore, we have requested the RBI to make them our members," Experian Credit Information Company Managing Director Mohan Jayaraman said. He said RBI has been receptive to the idea and has shown its willingness for the demand, but the changes cannot happen overnight as it will require amendments to the Credit Information Companies (Regulation) Act. Jayaraman further said even though payments banks will not be lending themselves, the data they share will help analyse bor...

Sunil Mittal Re-appointed Chairman of Bharti Airtel For 5 yrs

21Aug By Press Trust of IndiaNo Comments

News

Sunil Mittal Re-appointed Chairman of Bharti Airtel For 5 yrs

Sunil Bharti Mittal has been re-appointed as the Chairman of telecom giant Bharti Airtel for another five year, with effect from October 1, 2016. "Sunil Bharti Mittal has been re-appointed as the Chairman of the company for further term of five years with effect from October 1, 2016," the company said in a BSE filing, communicating the outcome of its 21st AGM. Mittal is the Founder of Bharti Enterprises, Indias one of largest conglomerates with diversified interests in telecom, insurance, real estate, agri and food, besides other ventures. The Group also has joint ventures with global leaders like Singtel, SoftBank, AXA, Del Monte amongst others. Bharti Airtel, the Groups flagship company, offers mobile, fixed broadband and digital TV solutions to over 350 million customers acros...