Page 2 - Payments Banks

Here's how payment banks are likely to impact on your financial life soon

By foraying into distribution, forex and digital lending, they are creating more touch points with customers

Heavy set-up costs hurt payments banks' profitability: RBI

Payments banks were created to improve access to formal financial channels or services for small depositors, businesses, low-income households and others, who typically reside and/or work in the rural

Odisha turns to payments banks, SFBs to tap unbanked areas

Commercial banks in Odisha, especially the public sector lenders are battling alarming NPAs

Payments banks: Interest rates shouldn't be a decisive factor

Why would someone who has a savings bank account with a regular commercial bank open an account with one of the new payments banks? A commercial bank offers a lot more products and services than a payments bank can. However, the latter will offer seamless transactions. Customers will be able to do all types of payments, even buying vegetables or shopping in your local grocery shop, through a payments bank. This is what Paytm, which launched a payments bank earlier this week, is banking on. "We offer a combination of zero minimum balance, zero charges on digital transactions, a competitive interest rate, seamless transaction to Paytm services like payments, e-commerce and wealth management (digital gold)," says Madhur Deora, its chief financial officer.At present, there are three in this market - Paytm, Airtel and India Post. For someone not a regular user of Paytm's payments' facility, the interest rate for keeping idle cash in Paytm is the lowest, at four per cent. Airtel Payments ...

Final guidelines on payments banks soon

RBI said to have taken note of players' concerns

Banks eye Postal department's payments bank branches to reach rural India

Foreign banks like Citibank, Barclays and Deutsche Bank want to use postal infrastructure to take their services to the common man

India Post Payments Bank will serve cause of Antyodaya: Ravi Shakar Prasad

IPPB is being set up with the aim of achieving financial inclusion in country

Profit pressure stops Tech Mahindra's payments bank plan

Cholamandalam and Dilip Shanghvi had also announced they would surrender their licences

SBI chairman doesn't foresee stiff competition from new niche banks

Arundhati Bhattacharya said that neither payment banks nor small finance banks seem to have yet devised a business model that can be termed as viable

Airtel's M-commerce subsidiary gets payments bank licence

In August last year, RBI had given in-principle to the company, which operates under brand name of Airtel Money

Odisha govt for payments banks to open branches in un-banked areas

The state government has asked the Union Finance Ministry to instruct payments banks to set up branches in un-banked regions