Tag: Airtel

29 Banks Witnesses 9,500 Visitors In Two Dayer Digi Dhan Mela

[New Delhi] 29 Banks Witnesses 9,500 Visitors In Two Dayer Digi Dhan Mela And Provided Eighteen Mobile Wallet
Around 9,500 persons attended a two-day awareness camp to create awareness about digital payments and help people open bank accounts and enroll for Aadhaar,
As per Ministry of Electronics and Information Technology ,.Digital transactions worth Rs 60,000 were conducted at the event that concluded today,
and witnessed footfall of over 9500 visitors in two days
The camp commenced on December 17 culminated today at Major Dhyanchand National Stadium, Delhi.
The objective of the initiative was to enable citizens and merchants to undertake real-time digital transactions through the DigiDhan Bazaar and encourage them to use digital platforms for day-to-day transactions,
“As many as 72 participants from 29 banks including State Bank of India, Corporation Bank, Bank of Maharashtra, Andhra Bank, Oriental Bank of Commerce, Punjab National Bank, ICICI Bank were present,”
Eighteen mobile wallet operators like MobiKwik, Oxygen, TranServ; telecom companies like Airtel, Idea, Reliance Jio participated in the event.
Aadhaar Enabled Payment System (AEPS) vendors, merchants (through marketing associations), co-operatives like Kendriya Bhandar and organised retail fruits and vegetable chains like Safal, Mother Dairy took part in the DigiDhan Mela.
“Cashless transactions took place worth Rs 60,000 at the DigiBazar,”
The UIDAI counter at the Mela created about 500 new Aadhaar accounts and registered over 2,000 new applications and NPCI (National Payment Corporation of India) has made almost 6000 people aware about USSD (, AEPS and RuPay card in a span of two days, it added.

Paytm to Merge Its Wallet Business with Payments Bank

[New Delhi] Paytm to Merge Its Wallet Business with Payments Bank,Chinese Alibaba May not Hold Direct Shares
One97 Communications, the firm that owns Paytm, is restructuring its business ahead of the launch of its Payments Bank, merging the wallet business with payments bank operation.
Company claims increase of 35 mn online recharges after demonetisation
As per Paytm spokesperson.”It is transfer of business. Wallet business will move to payments bank while One97 will be managing the sales part for the wallet business. The transfer will be complete once payment bank licence is obtained,”
The company had incorporated Paytm E-commerce and Paytm Payments Bank as separate companies earlier this year.
Reserve Bank of India had awarded `in-principle’ approval to Vijay Shekhar Sharma, the founder of One97 Communications, to set up a Payments Bank.
Paytm Payments Bank is in the process of obtaining the final licence from the RBI and would commence its operations after obtaining due approvals, the spokesperson added.
Sharma will hold the majority share in the new Payments Bank entity, with the rest being held by One97 Communications.
Alibaba Group and its affiliate Ant Financial pumped in USD 680 million into Paytm’s parent One97 Communications last year, taking its total shareholding to over 40 per cent in the country’s largest mobile wallet operator Paytm with close to 160 million customers. However, the Chinese entity will not have a direct shareholding in the payments bank.
Paytm has not given a fresh timeline for the launch of its payment bank services, which was earlier slated to begin operations around Diwali.
Later, three entities — Tech Mahindra, Cholamandalam Investment and Finance Company and a consortium of Dilip Shanghvi, IDFC Bank and Telenor Financial Services — backed out of the payments bank licensing.
Last month, Airtel became the first payments bank to go live in the country when it rolled out a pilot of its banking services in Rajasthan.