In the last one year or so, the word Payments Bank is hitting everyone's mouth across the country. Back in August 2015, Reserve Bank of India (RBI) approved 11 applicants to open the Payments Bank service in India. And the major ones among the list are Airtel, India Post, Paytm, Aditya Birla Nuvo LTD, Vodafone m-Pesa, Reliance Industries LTD.
All the major telecom operators in the country are looking to open Payments Bank service. Until now, three Payments Bank are live in the country- Airtel Payments Bank, India Post Payments Bank, and the more recent Paytm Payments Bank. While the service providers are pretty much clear about what they want to offer with the Payments Bank, end users are confused to the core.
Take a look at the video to know about the Payments Banks in India in the view of a consumer.