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Airtel Payments Bank gets RBI nod to start enrolling new customers

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Airtel Payments Bank, Reserve Bank of India, Aadhaar, KYC issues, UIDAI, RBI, Customers, Business news

New Delhi: After running into rough weather due to Aadhaar-related e-KYC issues, Airtel Payments Bank on Thursday said it has received requisite approvals from the Reserve Bank of India and UIDAI to start acquiring new customers.

 

Airtel Payments Bank, Reserve Bank of India, Aadhaar, KYC issues, UIDAI, RBI, Customers, Business news

 

“Airtel Payments Bank has received requisite approvals from The Reserve Bank of India to start on-boarding new customers. Airtel Payments Bank has also been permitted by the UIDAI to resume the on-boarding of customers using Aaadhaar based e-KYC. We thank the authorities for the approvals,” a company spokesperson said in a statement.

 

Airtel Payments Bank, Reserve Bank of India, Aadhaar, KYC issues, UIDAI, RBI, Customers, Business news

 

“We remain committed to the government’s vision of financial inclusion and banking for all,” he added.

 

Airtel Payments Bank, Reserve Bank of India, Aadhaar, KYC issues, UIDAI, RBI, Customers, Business news

 

In an interview to journalist last week, Gopal Vittal, MD and CEO (India and South Asia), Bharti Airtel said: “The bank had started off very well, but we got into regulatory issues. We are working very closely with authorities (RBI and UIDAI) and hopefully this will be back to business soon and start acquiring customers. Right now have 30 million customers in the bank and the wallet. Operation is continuing for existing customers, but we are not acquiring new customers.”

 

Airtel Payments Bank gets approval from RBI to start acquiring new customers:

 

Airtel Payments Bank on May 24, 2018 announced the appointment of Anubrata Biswas as its Managing Director and Chief Executive Officer.

 

Airtel Payments Bank, Reserve Bank of India, Aadhaar, KYC issues, UIDAI, RBI, Customers, Business news

 

The appointment comes five months after former CEO and MD Shashi Arora stepped down in December.

 

Airtel Payments Bank, Reserve Bank of India, Aadhaar, KYC issues, UIDAI, RBI, Customers, Business news

 

The RBI on March 9 slapped a penalty of Rs 5 crore on Airtel Payments Bank Limited for violating KYC norms, an official statement said here.

 

Airtel Payments Bank, Reserve Bank of India, Aadhaar, KYC issues, UIDAI, RBI, Customers, Business news

 

“The Reserve Bank of India has imposed, on March 7, 2018, a monetary penalty of Rs 50 million on Airtel Payments Bank Limited for contravening the ‘Operating Guidelines for Payments Banks’ and directions issued by RBI on Know Your Customer (KYC) norms,” the RBI statement had said.

 

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Good news waiting for central government employees in month of March!

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New Delhi: The National Democratic Alliance (NDA) led by Prime Minister Narendra Modi at the Centre might announce good news related to minimum pay of central government employees in the month of March.

The central government is likely to implement the recommendations of the Seventh Pay Commission in March month. In a recent meeting of the National Joint Council of Action (NCJA) in New Delhi some proposals related to enhancing the minimum grade pay of central employees were discussed during meeting.

Though many associations of the central government are not aware of any such a proposal but at present, central employees get a minimum wage of Rs 18,000.

They are demanding a hike of up to Rs 8,000 in the minimum pay and increase in the fitment factor from 2.57 times to 3.68 times.

 

Let month of March come and good news wait for central government employees!:

 

As we all know that Lok Sabha elections just a few months away, the Modi government is leaving no stone unturned to woo its employees. If the minimum wage of the central employees does not see an increase, then their Dearness Allowance (DA) will definitely be increased.

According to some news reports said the Modi government is keen to increase the minimum pay of central government employees, but it will increase the burden on the public exchequer.

However, it is expected that the much-awaited decision by the central government is likely to be announced in the month of March. The Modi government has also stepped in to provide travel-related benefits to its employees in election season.

Now the Central employees will be able to travel through private airlines to visit the home and other parts of the country (Jammu and Kashmir and Andaman and Nicobar) under the LTC benefit.

 

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