Airtel Payments Bank gets RBI nod to add new customers, can use e-KYC

The payments bank ran into a controversy after it allegedly opened savings accounts for existing customers without their express permissions

After being mired in controversy for a long time after an RBI order that prevented it from onboarding new customers, Airtel Payments Bank received requisite approvals from the central bank to start signing up new accounts, the company stated on Thursday.

The payments bank was at loggerheads with the authorities after it was reported that it opened savings bank account for existing customers without seeking their express permissions. These accounts eventually led to rerouting of government subsidies for LPG to the tune of Rs 1.68 billion being transferred to Airtel Payments Bank accounts even as many of the customers weren’t aware