24 May 17 | 16:00
BHARTI AIRTEL LTD.
Airtel to apply for Payments Bank License |
1/29/2015 5:26:44 PM
Bharti Airtel Ltd has informed BSE that the following:
- Airtel M Commerce Services Limited (AMSL), a wholly owned subsidiary of Bharti Airtel Limited, has decided to seek conversion of its existing Pre-paid Payment Instrument license into a Payments Bank License from the Reserve Bank of India (RBI) pursuant to the Payments Banks Guidelines issued by the RBI.
- Subject to the grant of a Payments Bank License by the RBI to AMSL, and other regulatory approvals, Kotak Mahindra Bank Limited (KMBL) will be acquiring 19.90% stake in AMSL.
In this regard, the Company has issued a copy of Press Release dated January 29, 2015, titled "Airtel to apply for Payments Bank License".
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25 May 17|03:07 (IST)