Presently, RBI allows payments banks to accept 2 lakh in the form of low-cost deposits and does not allow such players to offer loans or fixed deposits. "Our thought is that if we are allowed to do those products, then we can immediately impact millions and millions of lives, which today may be out of the formal systems," Biswas said.
Airtel Payments Bank's bottomline grew 143% year-on-year to ₹5 crore during the quarter ended June, and revenue rose 41% year-on-year to ₹400 crore during the same period.
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