Telecom companies expect spurt in revenues with ‘payments banks’

Top mobile operators such as Airtel, Vodafone and Idea CellularBSE 1.08 % are expected to be among the first ones to set up ‘payments banks’, opening up a new revenue stream by leveraging their large customer base and wide geographical reach through retail outlets. The Reserve Bank of India (RBI) had on July 17 issued draft guidelines for those seeking licences to open payments banks and small banks in a bid to ensure banking services covered most households across the country.


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