Airtel Payments Bank has said it is rapidly expanding its rural footprint in Chhattisgarh to take banking services to unbanked villages in remote areas of the state and contribute to financial inclusion. Over 1650 unbanked villages in the state now have access to formal banking services, it said. The majority of the residents of these villages had no bank account or had to travel long distances to reach the nearest bank branch.
With Airtel Payments Bank’s neighborhood banking points in and around these villages, financial services are now available to residents at an arm’s length. Residents can now open a bank account within their own villages. It also means the safety of their money as they no longer have to carry or keep cash at home and can earn interest on their savings account deposits.
Airtel Payments Bank also said it is offering access to a range of financial services like Aadhaar Enabled Payments, insurance and government pension schemes within the villages itself. Airtel Payments Bank’s unique retail-based model is designed to make banking more accessible to customers. The banking services are completely paperless and very simple to access through a mobile phone or the retail touchpoints, which also act as ATMs.
Airtel Payments Bank further says it is working to build a robust doorstep banking infrastructure to serve the unbanked and underbanked population across Chhattisgarh. By March 2021, Airtel Payments Bank plans to expand its banking points footprint by 40% and will have 9000 touch points spread across Chhattisgarh. This will be the largest banking network in the state and a large number of these banking points will serve customers in unbanked and underbanked geographies.
Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “At Airtel Payments Bank, our mission is to take formal banking to the doorstep of every Indian. We are delighted to enable these unbanked villages of Chhattisgarh and provide them with access to neighborhood banking. Our unique and extensive distribution network ensures that more and more people have access to banking and financial services.”
Latest Business News
Fight against Coronavirus: Full coverage