Airtel Payments Bank gets scheduled bank status from RBI

The bank turned profitable in the quarter ended September 2021.

New Delhi: Airtel Payments Bank on Tuesday said it has been categorised as a scheduled bank by the Reserve Bank of India (RBI).

With this, Airtel Payments Bank can now pitch for government-issued Requests for Proposals (RFPs) and primary auctions and undertake both central and state government business, besides participating in government-operated welfare schemes, it said in a statment.

"In a boost to its fast growing digital banking footprint, Airtel Payments Bank has been categorised as Scheduled Bank by the Reserve Bank of India," it said.