RBI grants Licences to 11 Payment Banks:

Selected applicants:
1. Reliance
2. Airtel M Commerce Services
3. Tech Mahindra(IT)
4. Vodafone M- Pesa(TC)
5. Aditya Birla Nuvo(Corporate)
6. Department of Posts (P. S)
7. Cholamandalam Doistribution Services
8. Fino Pay Tech
9. PayTm
10. National Securities Depository Ltd. ( NSDL)
11. Sun Pharma

Payment Banks:

  • It is a type of non full services bank which can only receive deposits and provide remittances.
  • Payment Banks are new stripped-down type of Banks, which are expected to reach customers mainly through their mobile phones rather than traditional bank branches.



  • Maximum Capital = 100Cr.
  • FDI allowed = 74%
  • Required to maintain 15% of its risk weighted assets with RBI.
  • 25% of its branches must be in the unbanked rural areas.
  • Mandatory to use term “Payment Bank”.
  • Any acquisition more than 5% will require approval of RBI.
  • Three quarters of the deposits have to be invested in govt. securities and rest in scheduled commercial banks.
  • It is a type of non full service bank which can only receive deposits and provide remittances to migrant labourers, low income households, small business etc.