On the way to become cashless, Telecom giant Airtel is likely to tie up Andhra Pradesh Government to adopt villages for fully cashless services and later it will be extended to all villages in the state.
The telecom company has launched its Airtel Payments Bank four days ago. The Payments Bank offers 7.25 per cent interest per annum for the savings account deposits, Rs 1 lakh accident insurance and national talk time equivalent to the deposit amount in the bank.
In Andhra Pradesh and Telangana, Airtel Payments Bank is rolling out pilot services across 8,000 Airtel retail outlets in Andhra Pradesh and 7,000 outlets in Telangana, which also acts as banking points. 70 % of these banking points are in rural areas, thereby driving financial inclusion and reaching un-banked areas.
Airtel Payments Bank offers basic banking services to customers by leveraging Airtel’s vast retail network and taking basic banking services to the doorstep of customers via neighborhood Airtel retailers.
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