Airtel Funds Financial institution will get scheduled financial institution standing from RBI

Airtel Funds Financial institution on Tuesday mentioned it has been categorised as a scheduled financial institution by the Reserve Financial institution of India (RBI).

With this, Airtel Funds Financial institution can now pitch for government-issued Requests for Proposals (RFPs) and first auctions and undertake each central and state authorities enterprise, moreover collaborating in government-operated welfare schemes, it mentioned in a statment.

“In a lift to its quick rising digital banking footprint, Airtel Funds Financial institution has been categorised as Scheduled Financial institution by the Reserve Financial institution of India,” it mentioned.

Airtel Funds Financial institution is among the many fastest-growing digital banks within the nation, with a base of 115 million customers. It gives a collection of digital options via the Airtel Thanks app and a retail community of over 500,000 neighbourhood banking factors The financial institution turned worthwhile within the quarter ended September 2021.

Anubrata Biswas, CEO of Airtel Funds Financial institution, mentioned, “We’re grateful to the Reserve Financial institution of India for including us to the record of Scheduled Banks.” “This standing is a crucial milestone in our progress journey and can additional reinforce the belief our prospects have positioned with the financial institution,” Biswas added.