Airtel Payments Bank

Corporate brand

An Indian payments bank owned by the Bharti Group that provides digital payments, deposit accounts, assisted banking and related financial services through Airtel’s mobile and retail distribution network.

Last updated August 31, 2026

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Overview

Airtel Payments Bank is an Indian payments-bank institution and financial-services brand controlled by the Bharti Group and associated with Bharti Airtel. It was created during India’s rollout of the payments-bank model, a regulated banking category designed to expand access to deposits and payments without operating as a conventional full-service commercial bank. The institution received the Reserve Bank of India’s payments-bank licence in April 2016, began a pilot in Rajasthan later that year and expanded nationally in January 2017. The business combines digital channels with an extensive assisted-banking network. Customers can access services through Airtel’s mobile and digital interfaces, including the Airtel Thanks app and USSD, as well as through neighborhood banking points and other retail locations. Its service portfolio has included payments-bank savings accounts, domestic money transfers, bill payments, digital merchant collections, UPI-enabled transactions, FASTag issuance and payments, insurance distribution and pension-related services. The model is intended to serve both consumers and small businesses, particularly customers who may prefer cash-assisted or local-agent banking alongside app-based transactions. Airtel Payments Bank initially operated through an 80:20 partnership between Bharti Airtel and Kotak Mahindra Bank. Kotak Mahindra Bank sold its stake to Bharti Enterprises in August 2021, after which the Bharti Group became the dominant owner; reference material reports that Bharti Group companies held 99.9% of the bank’s equity at the end of 2021. The bank became profitable in the quarter ended September 2021 according to the cited reference material. On 5 January 2022, the Reserve Bank of India granted it scheduled-bank status under the second schedule of the Reserve Bank of India Act, 1934. The brand’s positioning is based on financial inclusion, convenience and distribution reach rather than traditional branch banking. It uses Airtel’s telecommunications relationship with Indian consumers and its retail footprint to offer everyday financial services. The bank has also developed products connected with India’s digital-payments infrastructure, including UPI and electronic toll collection. In 2024, it was included in Fortune’s Fintech Innovators Asia list, according to the cited Wikipedia material. Its regulatory history has included significant scrutiny. In December 2017, the Unique Identification Authority of India suspended the ability of Bharti Airtel and Airtel Payments Bank to conduct Aadhaar-based electronic know-your-customer onboarding following complaints that some accounts had been opened without customers’ consent and that certain LPG subsidies had been credited to Airtel Payments Bank accounts. The Reserve Bank of India later imposed a monetary penalty of ₹5 crore in March 2018. The bank received approvals from the Reserve Bank and UIDAI in July 2018 to resume onboarding new customers through Aadhaar-based e-KYC. These events remain important to understanding the brand’s compliance risks and the controls required in India’s regulated digital-finance market.

History

Airtel Payments Bank emerged from India’s payments-bank licensing programme. In 2015, the Reserve Bank of India granted in-principle approvals to eleven applicants under its payments-bank guidelines. The model was intended to broaden access to basic accounts and payment services while maintaining a narrower scope than a conventional commercial bank. On 11 April 2016, Airtel Payments Bank became the first company identified in the cited reference material to receive a payments-bank licence from the Reserve Bank of India under Section 22(1) of the Banking Regulation Act, 1949. It initially operated through an 80:20 partnership between Bharti Airtel and Kotak Mahindra Bank. Bharti Airtel launched the service in September 2016, followed by a pilot in Rajasthan in November. A national launch followed in January 2017, linking the bank’s proposition to India’s push toward digital and cashless payments. The institution developed a hybrid distribution model. Its digital channels included the Airtel Thanks application and USSD, while customers could also use a large network of local banking points. This combination enabled the bank to support app-based payments, assisted transactions, account services and merchant collections. Its offerings expanded beyond basic account access to include UPI payments, domestic transfers, bill payments, FASTag, insurance distribution and pension-related services. The bank’s early growth was accompanied by regulatory controversy. In December 2017, UIDAI suspended Aadhaar-based e-KYC activity involving Bharti Airtel and Airtel Payments Bank after customer complaints about accounts allegedly being opened without consent. The complaints also concerned LPG subsidies being credited to Airtel Payments Bank accounts. In March 2018, the Reserve Bank of India imposed a ₹5 crore penalty. The bank obtained the necessary approvals from the Reserve Bank and UIDAI in July 2018 to resume onboarding through Aadhaar-based e-KYC. Airtel Payments Bank continued to add products to its payments ecosystem. It began offering government-linked insurance and pension services through partnerships and its platform, launched FASTag issuance in 2019, and introduced Airtel Safe Pay in 2021 as an additional payment-validation mechanism. Ownership also changed in 2021, when Kotak Mahindra Bank sold its stake to Bharti Enterprises. Reference material states that Bharti Group companies held 99.9% of the bank’s equity as of 31 December 2021. The bank reached scheduled-bank status on 5 January 2022 when the Reserve Bank of India placed it under the second schedule of the Reserve Bank of India Act, 1934. The cited material also reports that the institution became profitable in the quarter ended 30 September 2021. By the period described in the reference material, it served approximately 155 million users through a network of more than 500,000 neighborhood banking points. In 2024, it was listed among Fortune’s Fintech Innovators Asia. Its continuing identity is that of an Airtel-linked payments and financial-inclusion platform operating within the limits of India’s payments-bank framework.

2022
Scheduled-bank status granted
[1]Airtel Payments Banken.wikipedia.org
The Reserve Bank of India granted scheduled-bank status under the second schedule of the Reserve Bank of India Act, 1934.
2021
Ownership consolidated
[1]Airtel Payments Banken.wikipedia.org
Kotak Mahindra Bank sold its stake to Bharti Enterprises; the Bharti Group subsequently held virtually all reported equity.
2019
FASTag issuance begins
[1]Airtel Payments Banken.wikipedia.org
The bank began issuing FASTag products through online and offline channels.
2017
National launch
[1]Airtel Payments Banken.wikipedia.org
Airtel Payments Bank expanded nationally with basic accounts and digital financial services.
2017
UPI payments launched
[1]Airtel Payments Banken.wikipedia.org
The bank added UPI-enabled payments and transfers through its digital channels.
2016
Payments-bank licence awarded
[1]Airtel Payments Banken.wikipedia.org
Airtel Payments Bank received a payments-bank licence from the Reserve Bank of India on 11 April.
2016
Rajasthan pilot begins
[1]Airtel Payments Banken.wikipedia.org
The bank began a pilot operation in Rajasthan in November after its September launch.
2015
In-principle payments-bank approval
[1]Airtel Payments Banken.wikipedia.org
The Reserve Bank of India granted in-principle approvals to eleven companies to establish payments banks.

Products and positioning

A digitally enabled Indian payments and financial-inclusion platform combining Airtel’s mobile ecosystem with a large assisted-banking and retail network.

Payments-bank account · 2017
Airtel Payments Bank savings account
The core account product for individual customers, designed for deposits, account access and everyday payment activity within India’s payments-bank regulatory framework. It is distributed through Airtel’s digital channels and assisted retail network rather than relying solely on conventional bank branches.
Digital payments · 2017
Digital payments and UPI
Airtel Payments Bank supports digital payments and transfers through the Airtel Thanks app and USSD. Its UPI offering, introduced in 2017, connects the bank to India’s interoperable instant-payment infrastructure and supports consumer payment use cases without requiring customers to disclose bank details to each recipient.
Financial-inclusion services
Merchant collections and assisted banking
The bank uses neighborhood banking points and retail distribution to support assisted deposits, payments, collections and other everyday banking interactions. This line extends the brand beyond app-only finance and is aimed at consumers and small merchants who value local access or cash-assisted service.
Electronic toll payments · 2019
Airtel Payments Bank FASTag
FASTag products issued online and offline for electronic payment of road tolls in India. The offering places Airtel Payments Bank within the country’s broader digital toll-collection ecosystem and extends its payment proposition into mobility-related transactions.
Payment security · 2021
Airtel Safe Pay
A payment-validation service launched in 2021 and described as adding another layer of confirmation beyond the industry’s standard two-factor authentication process. It reflects the bank’s emphasis on transaction security within a mobile-led payment environment.
Financial-product distribution · 2018
Insurance and pension distribution
The platform distributes selected insurance and pension-related products, including government-linked schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana. These services broaden the platform from payments into adjacent financial-inclusion products without making it a full-service lending bank.

Controversies

2018
Reserve Bank monetary penalty
The Reserve Bank of India imposed a ₹5 crore monetary penalty in March 2018 in connection with the bank’s regulatory and Aadhaar e-KYC-related issues.
Source
2017
Suspension of Aadhaar e-KYC activity
UIDAI suspended Aadhaar-based e-KYC onboarding involving Bharti Airtel and Airtel Payments Bank after complaints that some accounts had allegedly been opened without customer consent and that LPG subsidies had been credited to Airtel Payments Bank accounts.
Source

2022
Obtain scheduled-bank statusStrategy
Background
Airtel Payments Bank sought broader formal recognition within India’s banking system while continuing to operate under payments-bank restrictions.
Action taken
The Reserve Bank of India placed the institution under the second schedule of the Reserve Bank of India Act, 1934.
Aftermath
The bank received scheduled-bank status on 5 January 2022, marking a regulatory milestone for the institution.
Source
2021
Consolidate ownership after Kotak exitM&A
Background
The bank’s original strategic partnership structure changed as the payments-bank business matured.
Action taken
Kotak Mahindra Bank sold its stake to Bharti Enterprises.
Aftermath
Bharti Group companies held 99.9% of the bank’s equity as of 31 December 2021, according to the cited reference.
Source
2019
Enter electronic toll paymentsProduct launch
Background
India was expanding electronic toll collection through FASTag.
Action taken
The bank began issuing FASTag products through online and offline channels.
Aftermath
FASTag added a transport-payment use case to the bank’s consumer and merchant payments portfolio.
Source
2017
Add UPI-enabled digital paymentsProduct launch
Background
India’s interoperable UPI system was becoming central to mobile payments and account-to-account transfers.
Action taken
Airtel Payments Bank introduced UPI payments through its digital channels, with customers linking eligible accounts through BHIM.
Aftermath
The bank expanded from account access and assisted payments into the wider UPI ecosystem.
Source
2016
Launch a telecom-distributed payments bankStrategy
Background
Bharti Airtel sought to use its customer base, mobile channels and retail reach to participate in India’s new payments-bank model.
Action taken
It established Airtel Payments Bank, initially with an 80:20 ownership structure involving Kotak Mahindra Bank, and launched a Rajasthan pilot before national expansion.
Aftermath
The institution became one of India’s prominent telecom-linked digital-finance platforms and later consolidated ownership under the Bharti Group.
Source

Recent events

2021.11.30
Reported2021.11.30
Airtel Payments Bank appoints CIO[3]Airtel Payments Bank任命首席信息官telecom.economictimes.indiatimes.com
Airtel Payments Bank appointed Pinak Chakraborty as its new Chief Information Officer.
2021.05.13
Reported2021.05.13
Airtel Payments Bank launches DigiGold[4]Airtel Payments Bank推出DigiGold服务themobileindian.com
Airtel Payments Bank launched DigiGold in partnership with SafeGold, enabling its savings account customers to invest in 24K gold through the Airtel Thanks app.
2021.05.13
Reported2021.05.13
Airtel Payments Bank launches DigiGold[5]Airtel Payments Bank推出DigiGoldtelecom.economictimes.indiatimes.com
Airtel Payments Bank launched DigiGold, a digital gold investment platform that lets eligible savings-account customers invest in 24K gold through the Airtel Thanks App and gift DigiGold.
2021.04.09
Reported2021.04.09
Airtel Payments Bank launches Rewards123 savings account[6]Airtel Payments Bank 推出 Rewards123 储蓄账户indiantelevision.com
Airtel Payments Bank announced the launch of Rewards123, a savings account offering rewards on digital transactions.
2020.07.22
Reported2020.07.23
Airtel Payments Bank and NSDC announce rural skills partnership[7]Airtel Payments Bank与NSDC宣布农村技能培训合作thenewsminute.com
Airtel Payments Bank and the National Skill Development Corporation announced a partnership to provide targeted skills programmes for rural youth and help participants find employment in financial services.
2020.06.15
Reported2020.06.15
Airtel Payments Bank launches Suraksha Salary Account[8]Airtel Payments Bank推出Suraksha工资账户themobileindian.com
Airtel Payments Bank announced the launch of Suraksha Salary Account, a salary account for micro, small and medium enterprises. The account includes insurance benefits and features such as no minimum balance.
2020.04.06
Reported2020.04.06
Airtel Payments Bank and Bharti AXA partner on COVID-19 insurance[9]Airtel Payments Bank与Bharti AXA合作推出COVID-19保险themobileindian.com
Airtel Payments Bank partnered with Bharti AXA General Insurance to offer health insurance plans providing financial protection against COVID-19 in India.
2020.04.06
Reported2020.04.06
COVID-19 health insurance plans rolled out[9]Airtel Payments Bank与Bharti AXA合作推出COVID-19保险themobileindian.com
Airtel Payments Bank and Bharti AXA General Insurance rolled out two health insurance plans offering benefits related to COVID-19. The plans were available to eligible Airtel Payments Bank savings account customers.
2019.10.17
Reported2019.10.17
ShopClues partners with MobiKwik and Airtel Payments Bank on festive offers[10]ShopClues 与 MobiKwik 和 Airtel Payments Bank 合作推出节日优惠indiantelevision.com
ShopClues tied up with MobiKwik and Airtel Payments Bank to create customer offers, including cashback offers, alongside its festive sale.
2019.09.30
Reported2019.09.30
ICICI Prudential Life and Airtel Payments Bank sign insurance distribution agreement[11]ICICI Prudential Life与Airtel Payments Bank签署保险分销协议dailyexcelsior.com
ICICI Prudential Life Insurance and Airtel Payments Bank signed a corporate agency agreement to make ICICI Prudential Life insurance and savings plans accessible to the bank’s customers.

Sources15 sources

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