Shilpi Kapoor will lead all marketing and corporate communications.
The mobile phone insurance market is poised for growth, expected to reach about $76.1 billion by 2030, with the Asia-Pacific region manifesting the fastest CAGR in this sector, per a report by Allied Market Research.
ICICI Lombard's cyber insurance solution provides financial protection to customers against potential financial fraud relating to banking, credit or debit card; identity theft; phishing or email spoofing and more.
Airtel Payments Bank MD and CEO Anubrata Biswas told PTI that the company added close to 35 lakh customers during the year and crossed the 10-crore customer mark in 2021.
A share purchase agreement has been executed by the bank for divestment of 20,00,00,000 equity shares (8.57 percent stake) held by Kotak Mahindra Bank Ltd in APBL.
‘Pay to contacts’ displays the valid UPI ID associated with the selected contact, irrespective of the UPI app used by the receiver. This eliminates the need to enter the UPI id or bank account details to process the payment and saves time.
Factors like growth in revenues, expanded scale of operations, and higher realisation per user from cross selling of products are expected to drive break-even in the current financial year.
Under the tie-up, the companies are offering two health insurance plans -- Bharti AXA Group Health Assure which offers lump sum benefit of Rs 25,000 and Group Hospital Cash which provides daily benefit starting Rs 500 per day -- to provide protection against COVID-19.
While Bharti Airtel has infused Rs 180.22 crore into Airtel Payments Bank, Bharti Enterprises has injected Rs 44.77 crore.
The company had denied any wrong doing and streamlined its processes to comply with the regulations.
This cut in interest rate could be a way of keeping rates competitive.
Over Rs 47 crore LPG subsidy was deposited in more than 23 lakh customer's Airtel bank accounts opened without their consents since June 9, according to NPCI.
According to statement issued by the bank, the announcement was made during the inauguration of HPCL fuel station as banking point in the Manikonda HPCL fuel station here.
This digital payments solution enables Airtel Payments Bank customers to make secure and convenient digital payments at over 1,00,000 ecommerce websites and other online portals, Mastercard said in a statement.
"Convenient digital payments over mobile are an integral part of India's growing digital ecosystem and we are delighted to partner ALTBalaji to offer customers the convenience of making quick and secure cashless payments through Airtel Payments Bank," Airtel Payments Bank MD and CEO Shashi Arora said.
In an interview with Mint, India Post Payments Bank Chief Ashok Singh said that simplicity is key for its operations.
Mobikwik is firming up plans to transform into a full-fledged financial services platform to offer users interest on money parked in its mobile wallet through tie-ups with instruments such as mutual funds. It also plans to dole out loans to its customers through bank-to-bank collaborations.
Airtel Payments Bank today said it has opened over one lakh savings accounts in Uttar Pradesh within the first two weeks of its launch in the state.
Freecharge CEO Govind Rajan also talks about strategic investments in Freecharge and how the wallet has grown post demonetisation by government
In an exclusive interaction with Moneycontrol, CEO and MD of Airtel Payments Bank Shashi Arora said that the company will soon be integrating UPI payments for its account holders but will not issue plastic cards.
"As more and more telecom companies enter the fray, I think we will hopefully see competition not only amongst telecom companies which we read a lot about these days but we will probably see competition between conventional and the new mode of banking that you are going to introduce," Jaitley said at the launch.
The company has committed an initial investment of Rs 3,000 crores to develop a pan India banking network and digital payments ecosystem.
Bharti Airtel will launch Airtel Payments Bank on Thursday in presence of Finance Minister Arun Jaitley and Bharti Group chief Sunil Bharti Mittal. Airtel Payments Bank rollout comes ahead of Vijay Shekhar Sharma‘s Paytm Payments Bank which is likely to be launched on January 15.
Airtel Payments Bank will charge 0.65 per cent fee on cash withdrawals but will not levy any processing charge on digital transactions from January 2017 to encourage cashless payments.
Having opened over one lakh savings accounts within a fortnight of launch of its pilot services in Rajasthan, Airtel Payments Bank is gearing up to extend the services to southern states starting this week.