June 30th, 2018Ahmedabad based E-commerce Major Infibeam is now ready to expand its business in IT segment as it looking forward to setting up its payment bank along with raising $292 Mn (INR 2000 Cr).
In a recent company's general meeting held on June 28, 2018 shareholders have approved a change in the company name from “Infibeam Incorporation...
June 5th, 2018India's first profitable E-commerce company Infibeam will seek shareholders approval on June 28 to expand business in IT industry and also to launch a payments bank.
The Gujrat based company said in its official statement, "We are looking to enter into payment bank business and to raise Rs 2,000 crore".
The company has also...
May 17th, 2017After months of delay, Paytm is now all set to commence its payments bank operations from May 23, having received the final approval from the Reserve Bank of India (RBI).
"Paytm Payments Bank Ltd (PPBL) has received the final licence from the RBI and would commence its operations on May 23, 2017," it said in a public notice.
The...
April 11th, 2017
Fino Paytech is seeking help from ICICI Bank to set up its payments bank venture and is aiming to launch the new entity within two months, a top official said.
"We are aiming to launch payments bank in one-and-a- half to two months. We're taking assistance from ICICI Bank for setting up the bank," chief executive Rishi Gupta...
March 7th, 2017Reliance Capital has sold its nearly 1 percent stake in popular digital payments firm Paytm for Rs 275 crore to China's Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm.
The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm. The deal gives a valuation of over USD 4...
January 28th, 2017India Post has received payments bank licence from the Reserve Bank of India to start rollout of banking operations commercially under the permit.
"India Post has received payments bank licence. The service will be launched as per schedule," a Department of Posts official said.
India Post Payments Bank is the third entity to...
January 3rd, 2017Today, 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...
November 27th, 2016Payments 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...
November 23rd, 2016Sunil 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...
September 17th, 2016Mobile payment firm Paytm, which has remained restricted to the digital format this far, will soon have physical branches and touch points, a top company official said today.
"We will have physical touch points in various formats. We have submitted a 12 months business plan," Paytm Payment Bank VP Ruchita Taneja Aggarwal said on the...
May 20th, 2016Telenor Financial Services, IDFC Bank and Sun Pharma's Dilip Shanghvi have decided to withdraw their licence to set up a payments bank.
They are the second applicant to withdraw from the licence after Cholamandalam group pulled out of payments banks race a couple of months back.
In a joint press statement, the partners said: "Dilip...
April 19th, 2016Small and payments banks have not yet devised a business model which can be termed viable, SBI Chairperson Arundhati Bhattacharya said today. "Neither the payments banks nor small finance banks seem to have as yet devised a business model that can be said as viable," said Bhattacharya, whose bank has tied up with Reliance Industries for...
