Airtel Payments Bank gets RBI nod to add new customers, can use e-KYC

The payments bank ran into a controversy after it allegedly opened savings accounts for existing customers without their express permissions

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Airtel Payments Bank , which was stopped by the Reserve Bank of India (RBI) from getting new customers on board, received approvals from the central bank to add new accounts, the company said on Thursday.

Also, the Unique Identification Authority of India (UIDAI) has allowed it to use the 12-digit Aadhaar-based e-KYC, the company said.

The payments bank ran into a controversy after it allegedly opened savings accounts for existing customers without their express permissions.

These accounts allegedly led to government LPG subsidies worth Rs 1.68 billion being transferred to Airtel Payments Bank accounts even as many of the customers weren’t aware of that.

“We thank the authorities for the approvals. We remain committed to the Government’s vision of financial inclusion and banking for all,” a spokesperson said.

Article Source → BS

 

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