Vodafone Idea Ltd has decided to close m-pesa vertical following the closure of Aditya Birla Idea Payments Bank Ltd (ABIPBL), in which it was being merged with, a top official said on Monday
Aditya Birla Payments Bank shuts operations 18 months after launch; what customers can do to get back deposits
Aditya Birla Payments Bank will continue to work with limited operations as guided by RBI to enable customers to withdraw deposits.
Reliance Industries-SBI joint venture Jio Payments Bank begins operations; third cellular operator to launch payments bank
Reliance Industries Ltd was one of the 11 applicants which were issued in-principle approval for setting up a payments bank in August 2015
Currently, Airtel and India Post are the only players that have started Payments Bank operations.
Paytm was earlier slated to begin operations around Diwali last year.
Payments banks can accept deposits from individuals and small businesses up to a maximum of Rs 1 lakh per account.