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Airtel payments Bank receives RBI approval to resume onboarding of new customers

July 12, 2018

Airtel Payments Bank has received approval from the Reserve Bank of India (RBI) to start enrolling new customers for Airtel Payments Bank.

The Unique Identification Authority of India (UIDAI) has also allowed it to use the 12-digit unique identification number-based e-KYC for onboarding new customers.

This development has come nearly seven months after Airtel Payments Bank came under RBI’s radar for opening payments bank accounts of its mobile subscribers without their consent. This came to notice after LPG subsidy worth crores was deposited into these accounts.

Following this, RBI had directed Airtel Payments Bank to not on-board new customers while UIDAI had suspended the e-KYC license of both Airtel and the payments bank.

Since then, the company has streamlined its processes to comply with the regulations.

Airtel Payments Bank had also separately paid a penalty of Rs 25 million to UIDAI.

 
 

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