Aditya Birla, Future apply for payment bank licence

Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks, under rules meant to put basic banking within......

Vodafone Idea to close m-pesa biz, writes off Rs 210 cr

Vodafone m-pesa was one of the 11 firms that was given payments bank licence by the Reserve Bank of India in 2015. Vodafone Idea Ltd has decided to close m-pesa vertical following the closure of......

RIL, 10 others win payment bank permits

India's leading mobile carriers Bharti Airtel Ltd and Vodafone India were among the 11 companies selected by the country's central bank to set up payments banks aimed at granting millions of......

Microsoft keen to get bigger pie in payments bank segment

To tap business opportunities that the proposed payments banks will bring in, global technology company Microsoft plans to offer back-end support to these players. The company is in talks with some......