MoneyWorks4Me

Bharti Airtel’s arm to apply for Payments Bank License

30 Jan 2015 Evaluate

Bharti Airtel’s wholly owned subsidiary Airtel M Commerce Services (AMSL) is seeking to convert its existing Prepaid Payment Instrument license into a Payments Bank license to be issued by the Reserve Bank of India.

Moreover, subject to grant of a Payments Bank license to AMSL by the Reserve Bank of India (RBI) and all regulatory approvals, Kotak Mahindra Bank will acquire 19.90% stake in AMSL as an investor. AMSL offers mobile money services under the brand name “Airtel Money”.

Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 4 mobile service providers globally in terms of subscribers.

Peers
Company Name CMP
Bharti Airtel 1872.75
Vodafone Idea 12.34
Indus Towers 380.40
Tata Communications 1718.55
Railtel Corp. India 250.05
View more..