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Airtel payments Banks receives approval from RBI to enroll new customers
TT Correspondent |  |  12 Jul 2018

On Thursday, Market leader Bharti Airtel said it has received approval from the Reserve Bank of India (RBI) to enroll new customers for Airtel Payments Bank.

“Airtel Payments Bank has received requisite approvals from the Reserve Bank of India to start on-boarding new customers. Airtel Payments Bank has also been permitted by the UIDAI to resume the on-boarding of customers using Aadhaar based e-KYC,” it said in a statement.

The Sunil Mittal-driven firm's new customer additions came to a halt after the banking regulator barred it from adding new customers after it was revealed that the payments bank was signing on subscribers without their consent.

The company has also added that it would remain committed to the government’s vision of financial inclusion and banking for all.

In June this year, the RBI had also imposed a fine after reviewing the Airtel Payments Bank’s documents relating to the opening of accounts.

It had concluded that the company had contravened that the operating guidelines for payments banks and directions issued by RBI on KYC norms.

Airtel Payments Bank had also separately paid a penalty of Rs 2.5 crore to the Unique Identification Authority of India (UIDAI).

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