The Reserve Bank of India has granted the licence to Aditya Birla Idea Payments Bank to start payments bank in the country. Aditya Birla Idea Payments Bank is a 51:49 joint venture between Aditya Birla Group-owned Aditya Birla Nuvo and Idea Cellular, respectively. "This is to inform you that the Reserve Bank of India... has granted a licence to Aditya Birla Idea Payments Bank Ltd to carry on the business... Read More
Aditya Birla Idea Payments Bank, a 51:49 joint venture between Aditya Birla Nuvo Ltd (ABNL) and telecom major Idea Cellular, will launch its services in the first half of 2017, the telco said in a letter to media. Idea Cellular Chief Corporate Affairs Officer Rajat Mukarji, in a letter to media, said, "The first half of 2017 will also see the launch of Aditya Birla Idea Payments Bank.” Airtel Payments... Read More
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
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