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Airtel to apply for Payments Bank License

Airtel today announced that its wholly owned subsidiary Airtel M Commerce Services Limited (AMSL) is seeking to convert its existing Prepaid Payment Instrument license into a Payments Bank license to be issued by the Reserve Bank of India. It also announced that subject to grant of a Payments Bank license to AMSL by the RBI and all regulatory approvals, Kotak Mahindra Bank Limited (Kotak) will acquire 19.90% stake in AMSL… Read More

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