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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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CIC direct authorities to reveal how much Rs 2000, Rs 500 notes printed till yet

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Demonetization, Central Information Commission, Rs 2000, Rs 500, Right To Information, RTI, Business news

Gurugram: The Central Information Commission (CIC) has directed authorities to reveal how many Rs 2,000 and Rs 500 notes were printed daily after demonetization till November 30, 2016, an RTI activist said on Saturday.

 

Demonetization, Central Information Commission, Rs 2000, Rs 500, Right To Information, RTI, Business news

 

Gurugram-based Right To Information (RTI) activist Harinder Dhingra had sought the information regarding the number of notes printed daily from November 9, 2016 to November 30, 2016.

Dhingra applied for the information through RTI Act on February 23, 2017.

 

Demonetization, Central Information Commission, Rs 2000, Rs 500, Right To Information, RTI, Business news

 

The Central Public Information Officer (CPIO) earlier refused to share the information, Dhingra told media persons. The second appeal was filed on August 16, 2017.

 

CIC ask authorities to reveal how many Rs 2,000 and Rs 500 notes printed till now:

 

Dhingra said that after a hearing on November 30, 2018, Information Commissioner Sudhir Bhargava on December 5, 2018 issued an order to provide the information.

 

Demonetization, Central Information Commission, Rs 2000, Rs 500, Right To Information, RTI, Business news

 

“Number of notes printed on daily basis from November 9, 2016 to November 30, 2016 was not so sensitive as to attract the exemption provisions under section 8(1)(a) of the RTI Act, therefore CPIO has been directed to provide the information sought,” the order read.

 

Demonetization, Central Information Commission, Rs 2000, Rs 500, Right To Information, RTI, Business news

 

Orders on banning the then existing Rs 1,000 and Rs 500 notes were implemented from the midnight of November 8, 2016.

 

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