Payment Banks Headquarters:

A payment bank has been categorized as a scheduled bank, conceptualized by the Reserve Bank of India formed a committee headed by Dr. Nachiket Mor. The main objective of payments banks is to broaden the reach of payment and financial services to small businesses, low-income households, and migrant laborers in a very secure technology-enabled environment.

List of Payment Banks in India Approved by RBI:

  • Aditya Birla Idea Payments Bank
  • Airtel Payments Bank
  • Cholamandalam Distribution Services Limited
  • India Post Payments Bank, Department of Posts
  • FINO Payments Bank, FINO PayTech Limited
  • National Securities Depository Limited Payments Bank
  • Jio Payments Bank, Reliance Industries Limited
  • Paytm Payments Bank
  • Shri Dilip Shantilal Shanghvi
  • Tech Mahindra Limited
  • Vodafone M-Pesa Payments Bank

Out of this 7 banks have started their operation as Payment Banks.

Name of the BankStarted YearHeadquarter
Airtel Payments Bank2017New Delhi
Paytm Payments Bank2017Noida
Fino Payments Bank2017Mumbai
India Post Payments Bank2018New Delhi
NSDL Payments Bank2018Mumbai
Jio Payments Bank2018Mumbai

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