India's top mobile operator Bharti Airtel and State Bank of India will together initially invest Rs 100 crore (USD 22 million) in a joint venture for mobile-based banking, OP Bhatt, chairman of the country's top lender, said on Wednesday.
Bharti Airtel said in September it had received a licence from the central bank to launch mobile payment services. Bharti Airtel had 149.4 million mobile customers in India at end-November, in a market of more than 700 million mobile users. India is the world's fastest-growing and the second-biggest market for mobile connections.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
