 "Vodafone says will offer comprehensive financial services")
Vodafone India today said the payments bank licence will enable it offer a comprehensive portfolio of banking and financial products and services, accelerating India's journey into a cashless economy.
"We are grateful to the RBI for giving us the licence for setting up a payment bank. The licence will enable it to build on this further and offer a more comprehensive portfolio of banking and financial products and services, accelerating India's journey into a cashless economy," Vodafone India MD and CEO Sunil Sood said in a statement.
The company said with over 90,000 'M-Pesa' agents, it is already providing people in remote areas a convenient way to transfer money and make payments.
Vodafone said the company has partnered with several government bodies to run pilots for enabling direct transfer of wages/subsidies and the payment bank licence will enable it to build on this further.
"We remain committed to actualise the government's vision of financial inclusion by leveraging the reach of mobile technology to service the unbanked and underserviced sections of the society," the statement added.
"We are grateful to the RBI for giving us the licence for setting up a payment bank. The licence will enable it to build on this further and offer a more comprehensive portfolio of banking and financial products and services, accelerating India's journey into a cashless economy," Vodafone India MD and CEO Sunil Sood said in a statement.
The company said with over 90,000 'M-Pesa' agents, it is already providing people in remote areas a convenient way to transfer money and make payments.
Vodafone said the company has partnered with several government bodies to run pilots for enabling direct transfer of wages/subsidies and the payment bank licence will enable it to build on this further.
ALSO READ: Dos and Don'ts of payments banks
"We remain committed to actualise the government's vision of financial inclusion by leveraging the reach of mobile technology to service the unbanked and underserviced sections of the society," the statement added.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%