The company also unveiled a new logo to reflect its new identity. The company plans to start rolling out its banking network in the second quarter of the current financial year, it said in a statement.
On April 11, Airtel Payments Bank received a payments bank licence from the Reserve Bank of India. It plans to leverage on Airtel’s national distribution network in the rural areas and offer a platform to deliver banking services to the last mile.
Currently, the Airtel distribution channel is spread across 15-lakh outlets covering around 87 per cent of the country’s population.
Kotak Mahindra Bank has acquired 19.90 per cent stake in Airtel Payments Bank for around Rs98.8 crore.
Source : Thehindubusinessline