Having opened over one lakh savings accounts within a fortnight of launch of its pilot services in Rajasthan, Airtel Payments Bank is gearing up to extend the services to southern states starting this week.
“We are getting into South India within a week… a couple of states like Andhra Pradesh, Telangana and Karnataka,” Airtel Payments Bank CEO Shashi Arora told this agencies.
Airtel Payments Bank is the first payments bank in India to go live.
Arora said these states have a deep rural market where the opportunity to offer banking benefit to financially excluded and the unbanked population is large. “We would be rolling out with about 20,000 retail outlets in Andhra Pradesh and Telangana combined, and another 15,000 or so, in Karanataka,” he said.
These retail outlets will act as banking access points and offer banking services, including eKYC-led onborading, cash deposits, cash withdrawals, he added.
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