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Bharti Airtel launches India’s first digital and paperless banking system. Since it is a digital banking system, Airtel Payments Bank will eliminate all kinds of paperwork in its banking platform.
With this move, your Airtel Mobile number becomes your account number with Airtel Payments Bank. Customers can their account using their Aadhaar – based eKYC service. The company won’t charge any kind of processing fee for carrying out digital transactions using its platform. The company says that its 6 Lakhs+ retail outlets will now serve as banking points. Customers can open their accounts, deposit or withdraw cash from these banking points at no extra charges.
The company will be offering an interest rate of 7.25% p.a. on the deposited amount. The company will credit one minute of talktime into your Airtel Mobile for every rupee that you deposit.