Bharti Airtel gains as its arm partners with Mastercard to develop customised financial products for farmers

27 May 2020

Bharti Airtel is currently trading at Rs. 563.95, up by 4.80 points or 0.86% from its previous closing of Rs. 559.15 on the BSE.

The scrip opened at Rs. 561.05 and has touched a high and low of Rs. 564.35 and Rs. 554.00 respectively. So far 552644 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 611.70 on 20-May-2020 and a 52 week low of Rs. 321.60 on 01-Aug-2019.

Last one week high and low of the scrip stood at Rs. 604.65 and Rs. 554.00 respectively. The current market cap of the company is Rs. 305893.10 crore.

The promoters holding in the company stood at 58.98%, while Institutions and Non-Institutions held 36.12% and 4.91% respectively.

Bharti Airtel’s subsidiary -- Airtel Payments Bank has teamed up with Mastercard to develop customised financial products for Indian farmers and Small and Medium Enterprises (SMEs) in a bid to deepen penetration of financial services in under banked and unbanked regions. The collaboration will bring together Mastercard’s global and local experience in developing advanced financial solutions and Airtel Payments Bank’s distribution network to reach the last mile and its large customer base.

Both entities have been working towards driving adoption of formal banking and digital payments in the country, in line with government’s vision of ‘Digital India’ and banking for every Indian. The partnership aims at building a digital platform which provides farmers with knowledge about advanced farming techniques and connection to marketplaces, while simultaneously enabling them to receive payments directly in their Airtel Payments Bank account.

Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.

 

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