If you see payment banks in India then you are correct post. Here you read and know how many banks in India? Here you also read what is payment bank and payment banks advantage and disadvantage.
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What are payment banks?
This type of bank is only used for bills and any type payment . They only provide credit and debit facilities. Payment gateway does not provide any type of loan and restricted deposit amount.
Payments banks work online. They can’t give loans and credit cards. Payment banks number in India are five.
Payments Banks Names
| Sr.No. | Name of the Bank |
|---|---|
| 1. | India Post Payments Bank Limited |
| 2. | Fino Payments Bank Limited |
| 3. | Paytm Payments Bank Limited |
| 4. | Airtel Payments Bank Limited |
India Post Payments Bank (IPBB) Limited
IPPB was launched on 30 January 2017 in Ranchi (Jharkhand) and Raipur (Chhattisgarh). India Post Payments Bank (IPPB) was setup under the Department of Post, Ministry of Communication with 100% equity owned by Government of India
Fino Payments Bank Limited
Fino Payments Bank was established on 4th April 2017. Fino Payments Bank was established on 4th April 2017. Fino Payment Bank main investors are bharat petroleum, union bank, LIC, corporation bank, Indian bank.
Paytm Payments Bank Limited
Paytm payment bank provides zero balance saving account, digital passbook, virtual debit card and online money transaction.
Airtel Payments Bank Limited
Airtel payment bank was launched in January 2017 by Bharti airtel company. Bharti airtel is the largest telecom company in India. They provide virtual debit card, net banking, saving account with interest and facility. They provide live talk customer support.
Jio Payments Bank Ltd
The Jio payment bank was established in November 2016. As you know, the Jio payment bank is under jio telecom company.
NSDL Payments Bank Limited
NSDL works from October 2018 for every Indian user. NSDL is the largest depository payment bank in India.