Airtel Payment Bank – India’s First Ever Payment Bank launched today across 29 states in India. Finance Minister Arun Jaitley, formally launched the bank. As an introductory offer Airtel Payment Bank Customers will get a Interest Rate of 7.25%, the highest in India.
The reserve bank of India has recently announced the draft guidelines on two new types of banks. To achieve the financial targets of the government plans of launching small banks and payment banks are underway. The primary aim of launching these banks is to provide credit to the poor and help the marginal farmers improve their financial condition.