In line with the guidelines of RBI, Airtel Payments Bank has increased the day-end balance by up to Rs. 2 lakh. The bank’s deposits are insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) which is a wholly-owned subsidiary of the RBI.
Anubrata Biswas, MD & CEO, Airtel Payments Bank, stated, “The RBI’s decision to increase the balance limit is an endorsement of the role Payments Banks have in furthering financial and digital inclusion in India. We are glad to enable this increased day-end balance limit for our customers. At Airtel Payments Bank, we have always believed that higher balance limits would enhance consumer usage of payments banks, as well as enable large sections of informal India, such as small merchants and traders, to access formal banking easily.”