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Overview of Payments Banks in India by Asif Hussain is a document available to read on EtoBox.

Payments banks were introduced in India in 2013 as a new category of bank to promote financial inclusion and increase access to basic banking services. They can accept deposits up to ₹100,000 but cannot issue loans or credit cards. Payments banks partner with telecom companies and retailers to offer basic banking via digital wallets and remittances using mobile phones. While initially promising, some major players like Vodafone later withdrew, leaving 7 existing payments banks including Airtel, India Post,

Author

Asif Hussain

Language

EN