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Aditya Birla Group gets RBI nod to kick off payments bank


The Dollar Business Bureau Aditya Birla Group on Tuesday announced it has received the banking license from the Reserve Bank of India (RBI) to operate its joint venture Aditya Birla Idea Payments Bank Ltd. Kumar Mangalam Birla-led outfit Aditya Birla Nuvo had earlier set up a joint venture with the other telecom major Idea Cellular to start payments bank services in the country. Aditya Birla Nuvo and Idea Cellular will hold 51:49 shares in the joint venture payment bank. "... the Reserve Bank of India... has granted a licence to Aditya Birla Idea...


This post first appeared on TheDollarBusiness | Foreign Trade Magazine On Expo, please read the originial post: here

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Aditya Birla Group gets RBI nod to kick off payments bank

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