Airtel Payments Bank opens over 100,000 savings accounts in UP in 2 weeks

Official says, about 60% of these accounts have been opened in rural areas

Airtel Payments Bank is expanding its footprint in the rural and unbanked pockets of Uttar Pradesh. So far, it has clocked over 1,00,000 savings accounts in UP within two weeks of its launch.

About 60 per cent of these accounts have been opened in rural areas and thus contributing to financial inclusion in the state, Airtel Payments Bank Managing Director and Chief Executive Officer Shashi Arora said in Lucknow on Thursday.

A network of 12,000 Airtel retailers across UP have been designated as banking points, who would facilitate opening savings accounts, deposits and withdrawal of cash across for its account holders.

Airtel Payments Bank is a fully digital and paperless bank aiming to offer doorstep banking by leveraging Airtel's vast retail network.

"We are building a digital payments ecosystem that will enable customers make cashless payments for goods and services across millions of merchants and we invite merchants across UP to be a part of this ecosystem," Arora said.

The company has already committed an investment of Rs 3,000 crore across its national operations with plans to develop a digital payments ecosystem with over 5 million merchants.