Airtel bank to leverage HPCL fuel outlet network
.jpg)
Airtel Payments Bank on Tuesday announced a partnership with Hindustan Petroleum Corporation Ltd (HPCL) which will allow its customers to make cash deposits as well as withdraw money through HPCL fuel stations.
All 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank, the company said in a statement.
The bank has about 10 million users who will be able to customers would be able to access a range of convenient banking services such as opening new accounts, make cash deposits, withdrawals facility and transfer money.
This will add to the depth and reach of Airtel bank's retail based network that leverages over 300,000 Airtel retail outlets as banking points.
The customers will also be able to make digital payments for fuel purchases across 14,000 HPCL stations by using their mobile phones.
The cashless payments can be made via smartphones (MyAirtel App) as well as feature phones (USSD), the company said. The customer is not charged any transaction fee for these digital payments.
"We are delighted to partner HPCL as part of our endeavour to build a robust and diverse merchant ecosystem that brings more digital payments avenues to our customers. We are, in particular, pleased to have these fuel outlets as our banking points," Shashi Arora, managing director and chief executive officer, Airtel Payments Bank, said.
This partnership will add to the growth of digital payments in the country and contribute to the government's Digital India vision, he said.
"Customer visiting our outlets will now be able to pay seamlessly for fuel purchases and will also be able to enjoy the added convenience of banking with Airtel Payments Bank," G S V Prasad, executive director – retail, HPCL, said.
Airtel Payments Bank was launched in January this year. It offers an interest rate of 7.25% per annum on deposits in savings accounts and free personal accidental insurance of Rs one lakh apart from other benefits. Payments bank is a differentiated bank which allows customers to open a savings account for a deposit amount of up to Rs 1 lakh.
Apart from Airtel, Paytm and India Post have started their payments banks this year.
Other Latest News
.webp)
Oman LNG and TotalEnergies, one of its shareholders, have signed a sale and purchase agreement to supply 800,000 metric tons per year of liquefied natural gas, the companies said on Monday.
TotalEnergies, which owns 5.54 per cent of Oman LNG, will be supplied by the company for 10 years from 2025, they said in separate statements.
.webp)
The Supreme Court on Monday issued notice on the plea filed by the mother of the slain television journalist Soumya Vishwanathan against the Delhi High Court order granting bail to four convicts serving life imprisonment in the 2008 murder case.
A bench of Justices Bela M Trivedi and Pankaj Mithal asked the Delhi government and four convicts to file responses on the plea in four weeks.
.webp)
Hong Kong prohibited the sale of Indian spice brands, MDH Pvt and Everest Food Products Pvt, following the detection of carcinogenic pesticide ethylene oxide in multiple spice blends, according to a report in the Hindustan Times (HT).
The Centre for Food Safety (CFS) of the Government of the Hong Kong Special Administrative Region said that there was presence of ethylene oxide in MDH Group's madras curry powder, sambhar masala powder, and curry powder, the HT report said.
.webp)
The Delhi High Court on Monday dismissed a plea requesting the release of Delhi Chief Minister Arvind Kejriwal on “extraordinary interim bail” for all criminal cases registered by the Enforcement Directorate (ED) and the state until the completion of his tenure.
The court emphasised that nobody is above the law or the Constitution of India, affirming that Kejriwal is in custody as per court orders.
.webp)
Shares of Vodafone Idea were down 6.1 per cent at Rs 12.13 on the BSE in Monday’s intraday trade amid heavy volumes. The drop in the stock prices came amidst the last day of subscription for its follow on public offering (FPO).
Vodafone Idea's Rs 18,000-crore follow-on public offer (FPO) opened for subscription on Thursday, April 18. The three-day FPO will close today. The FPO price band was set at Rs 10 to Rs 11 per share with the minimum lot size for an application being 1,298 shares.
.webp)
.webp)
.webp)
.webp)
.webp)
