14 March 2017 Current Affairs: Airtel Payments Bank, offered by telecom major Bharti Airtel, announced that over one lakh savings accounts were opened in 100 villages across Tamil Nadu.
Through the initiative, the villages would have access to banking services along with the option of making digital payments. Till date, over one lakh savings accounts have been opened with Airtel Payments Bank across Tamil Nadu.
By launching the service, Airtel Payments Bank will not charge any processing fee from its customers and merchant partners for digital transactions. Airtel Payments Bank, which was the first payments bank to go live, has committed investment of Rs 3,000 crore countrywide and plans to build digital payments with over five million merchants. Payment Banks accept deposits from individuals and small businesses up to a maximum of Rs 1 lakh per account.