ABNL partners with Idea Cellular to venture into Payments Bank
Aditya Birla Nuvo Limited ("ABNL") said that it has submitted an application to the Reserve Bank of India (RBI) for obtaining the license for setting-up "Payments Bank". As per the proposed structure, ABNL will be the promoter of Payments Bank holding 51% equity capital. Idea Cellular Limited ("Idea"), an Aditya Birla Group company where ABNL is largest promoter shareholder, will be holding balance 49% equity capital. The Board of Directors... Read More