Aditya Birla Payments Bank - Revision history

ViolaCnr7137989: quick enhance section and cleaned formatting for clarity

2026-02-17T00:58:04Z

quick enhance section and cleaned formatting for clarity

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	{{short description\|~~Payments Bank~~}}		{{short description\|Indian bank}}
			{{Use dmy dates\|date=June 2022}}
			{{Use Indian English\|date=June 2022}}
	{{Infobox company		{{Infobox company
	\| name = Aditya Birla Payments Bank		\| name = Aditya Birla Payments Bank
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	}}		}}

	'''Aditya Birla Payments Bank''' Limited (ABPB) was a [[payments bank]] started as a joint venture by Aditya Birla Nuvo Ltd. and Idea Cellular.<ref name=hbl>{{cite news\|url=https://www.thehindubusinessline.com/money-and-banking/aditya-birla-nuvo-forms-jv-with-idea-cellular-for-payments-bank/article8257857.ece\|title=Aditya Birla Nuvo forms JV with Idea Cellular for payments bank\|date=19 February 2018\|publisher=[[The Hindu Business Line]]\|access-date=17 October 2018}}</ref> Launched on February ~~22,~~ 2018, it is the fourth payments bank to begin operations since issuance of licenses to 11 firms by the [[Reserve Bank of India]] in August 2015.<ref>{{cite news\|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/aditya-birla-idea-payments-bank-begins-operations/articleshow/63034052.cms\|title=Aditya Birla Idea Payments Bank begins operations\|date=22 February 2018\|publisher=[[The Economic Times]]\|access-date=17 October 2018}}</ref><ref>{{cite web\|url=https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=43207\|title=Aditya Birla Idea Payments Bank Limited commences operations\|date=22 February 2018\|access-date=17 October 2018}}</ref> Payments Banks are a special category of banks that can accept deposits of up to 1 lakh but cannot give loans or credit cards.<ref>{{cite news\|url=https://www.thehindu.com/business/all-you-need-to-know-about-payment-banks/article7561353.ece\|title=All you need to know about payments banks\|date=20 August 2015\|publisher=[[The Hindu]]\|access-date=17 October 2018}}</ref>		'''Aditya Birla Payments Bank''' Limited (ABPB) was a [[payments bank]] started as a joint venture by Aditya Birla Nuvo Ltd. and [[Idea Cellular]].<ref name=hbl>{{cite news\|url=https://www.thehindubusinessline.com/money-and-banking/aditya-birla-nuvo-forms-jv-with-idea-cellular-for-payments-bank/article8257857.ece\|title=Aditya Birla Nuvo forms JV with Idea Cellular for payments bank\|date=19 February 2018\|publisher=[[The Hindu Business Line]]\|access-date=17 October 2018}}</ref> Launched on 22 February 2018, it is the fourth payments bank to begin operations since issuance of licenses to 11 firms by the [[Reserve Bank of India]] in August 2015.<ref>{{cite news\|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/aditya-birla-idea-payments-bank-begins-operations/articleshow/63034052.cms\|title=Aditya Birla Idea Payments Bank begins operations\|date=22 February 2018\|publisher=[[The Economic Times]]\|access-date=17 October 2018}}</ref><ref>{{cite web\|url=https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=43207\|title=Aditya Birla Idea Payments Bank Limited commences operations\|date=22 February 2018\|access-date=17 October 2018}}</ref>

	On 20 July 2019, Aditya Birla Payments Bank announced that it would be shutting down operations subject to the receipt of requisite regulatory consents and approval.<ref>{{cite ~~web~~ \|title=Aditya Birla Idea Payments Bank to close operations - Times of India \|url=https://timesofindia.indiatimes.com/business/india-business/aditya-birla-idea-payments-bank-to-close-operations/articleshow/70309203.cms \|website=The Times of India}}</ref>		On 20 July 2019, Aditya Birla Payments Bank announced that it would be shutting down operations subject to the receipt of requisite regulatory consents and approval.<ref>{{cite news \|title=Aditya Birla Idea Payments Bank to close operations - Times of India \|url=https://timesofindia.indiatimes.com/business/india-business/aditya-birla-idea-payments-bank-to-close-operations/articleshow/70309203.cms \|website=The Times of India\|date=20 July 2019 }}</ref>

	==History==		==History==
	Aditya Birla Nuvo (now [[Grasim Industries\|Grasim Industries Limited]]) was one of the 11 entities to receive an in-principle approval by [[Reserve Bank of India]] (RBI) to set-up payments banks in India, in August 2015.<ref>{{cite news\|url=https://www.thehindubusinessline.com/markets/stock-markets/grasim-gets-investors-nod-to-merge-ab-nuvo-with-itself/article9622529.ece\|title=Grasim gets ~~investors’~~ nod to merge AB Nuvo with itself\|date=7 April 2018\|publisher=[[The Hindu Business Line]]\|access-date=17 October 2018}}</ref> Post the in-principle approval, RBI had issued a license to Aditya Birla Payments Bank under Section 22 (1) of the Banking Regulation Act, 1949 to commence with the business of payments bank in April 2017.<ref>{{cite web\|url=https://www.adityabirlanuvo.com/pdf/ABNLSELetter-april17.pdf\|title=ABNLSELetter-april17\|date=5 April 2017\|access-date=17 October 2018}}</ref>		Aditya Birla Nuvo (now [[Grasim Industries\|Grasim Industries Limited]]) was one of the 11 entities to receive an in-principle approval by [[Reserve Bank of India]] (RBI) to set-up payments banks in India, in August 2015.<ref>{{cite news\|url=https://www.thehindubusinessline.com/markets/stock-markets/grasim-gets-investors-nod-to-merge-ab-nuvo-with-itself/article9622529.ece\|title=Grasim gets investors' nod to merge AB Nuvo with itself\|date=7 April 2018\|publisher=[[The Hindu Business Line]]\|access-date=17 October 2018}}</ref> Post the in-principle approval, RBI had issued a license to Aditya Birla Payments Bank under Section 22 (1) of the Banking Regulation Act, 1949 to commence with the business of payments bank in April 2017.<ref>{{cite web\|url=https://www.adityabirlanuvo.com/pdf/ABNLSELetter-april17.pdf\|title=ABNLSELetter-april17\|date=5 April 2017\|access-date=17 October 2018\|archive-date=13 April 2018\|archive-url=https://web.archive.org/web/20180413030434/http://www.adityabirlanuvo.com/pdf/ABNLSELetter-april17.pdf\|url-status=dead}}</ref>

	Aditya Birla Payments Bank earlier operated as IMCSL (Idea Mobile Commerce Services Ltd) as a brand of Idea Cellular Ltd.<ref>{{cite news\|url=https://economictimes.indiatimes.com/industry/banking/finance/idea-mobile-commerce-to-merge-with-aditya-birla-idea-payments/articleshow/52044168.cms\|title=Idea Mobile Commerce to merge with Aditya Birla Idea Payments\|date=29 April 2016\|publisher=[[The Economic Times]]\|access-date=17 October 2018}}</ref>		Aditya Birla Payments Bank earlier operated as IMCSL (Idea Mobile Commerce Services Ltd) as a brand of Idea Cellular Ltd.<ref>{{cite news\|url=https://economictimes.indiatimes.com/industry/banking/finance/idea-mobile-commerce-to-merge-with-aditya-birla-idea-payments/articleshow/52044168.cms\|title=Idea Mobile Commerce to merge with Aditya Birla Idea Payments\|date=29 April 2016\|publisher=[[The Economic Times]]\|access-date=17 October 2018}}</ref>
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	==References==		==References==
	{{Reflist~~\|30em~~}}		{{Reflist}}

	==External links==		==External links==
			{{Portal\|Banks}}
	* {{Official website\|https://www.adityabirla.bank/}}		* {{Official website\|https://www.adityabirla.bank/}}

CleanupBot II: Removed empty portal template using script

2023-08-13T17:25:26Z

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← Older revision		Revision as of 22:55, 13 August 2023
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	==External links==		==External links==
	~~{{Portal\|Banks}}~~
	* {{Official website\|https://www.adityabirla.bank/}}		* {{Official website\|https://www.adityabirla.bank/}}

>BrownHairedGirl: removed Category:Companies based in Mumbai; added Category:Banks based in Mumbai using HotCat

2021-04-12T18:05:05Z

removed Category:Companies based in Mumbai; added Category:Banks based in Mumbai using HotCat

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{{short description|Payments Bank}}
{{Infobox company
| name = Aditya Birla Payments Bank
| type = [[Privately held company|Private]]
| industry = [[Financial services]]
| founded = {{Start date and age|2016|02|19|df=yes}}
| fate = Closed (2019)
| hq_location_city = [[Mumbai]]
| hq_location_country = [[India]]
| key_people = {{ubl |Dev Bhattacharya (Non-Executive Director)|Sudhakar Ramasubramanian (MD & CEO)}}
| products = Savings Account, BHIM ABPB UPI, ABPB Wallet, ABPB Payments Gateway
| services = Banking, Payments & Payments Systems, UPI, NEFT, IMPS, Third Party Loan Referral, Digital wallet, Group Insurances
| parent = [[Grasim Industries|Grasim Industries Limited]] (51%)<br/>[[Idea Cellular|Idea Cellular Limited]] (49%)
| website ={{url |https://www.adityabirla.bank/}}
}}

'''Aditya Birla Payments Bank''' Limited (ABPB) was a [[payments bank]] started as a joint venture by Aditya Birla Nuvo Ltd. and Idea Cellular.<ref name=hbl>{{cite news|url=https://www.thehindubusinessline.com/money-and-banking/aditya-birla-nuvo-forms-jv-with-idea-cellular-for-payments-bank/article8257857.ece|title=Aditya Birla Nuvo forms JV with Idea Cellular for payments bank|date=19 February 2018|publisher=[[The Hindu Business Line]]|access-date=17 October 2018}}</ref> Launched on February 22, 2018, it is the fourth payments bank to begin operations since issuance of licenses to 11 firms by the [[Reserve Bank of India]] in August 2015.<ref>{{cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/aditya-birla-idea-payments-bank-begins-operations/articleshow/63034052.cms|title=Aditya Birla Idea Payments Bank begins operations|date=22 February 2018|publisher=[[The Economic Times]]|access-date=17 October 2018}}</ref><ref>{{cite web|url=https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=43207|title=Aditya Birla Idea Payments Bank Limited commences operations|date=22 February 2018|access-date=17 October 2018}}</ref> Payments Banks are a special category of banks that can accept deposits of up to 1 lakh but cannot give loans or credit cards.<ref>{{cite news|url=https://www.thehindu.com/business/all-you-need-to-know-about-payment-banks/article7561353.ece|title=All you need to know about payments banks|date=20 August 2015|publisher=[[The Hindu]]|access-date=17 October 2018}}</ref>

On 20 July 2019, Aditya Birla Payments Bank announced that it would be shutting down operations subject to the receipt of requisite regulatory consents and approval.<ref>{{cite web |title=Aditya Birla Idea Payments Bank to close operations - Times of India |url=https://timesofindia.indiatimes.com/business/india-business/aditya-birla-idea-payments-bank-to-close-operations/articleshow/70309203.cms |website=The Times of India}}</ref>

==History==
Aditya Birla Nuvo (now [[Grasim Industries|Grasim Industries Limited]]) was one of the 11 entities to receive an in-principle approval by [[Reserve Bank of India]] (RBI) to set-up payments banks in India, in August 2015.<ref>{{cite news|url=https://www.thehindubusinessline.com/markets/stock-markets/grasim-gets-investors-nod-to-merge-ab-nuvo-with-itself/article9622529.ece|title=Grasim gets investors’ nod to merge AB Nuvo with itself|date=7 April 2018|publisher=[[The Hindu Business Line]]|access-date=17 October 2018}}</ref> Post the in-principle approval, RBI had issued a license to Aditya Birla Payments Bank under Section 22 (1) of the Banking Regulation Act, 1949 to commence with the business of payments bank in April 2017.<ref>{{cite web|url=https://www.adityabirlanuvo.com/pdf/ABNLSELetter-april17.pdf|title=ABNLSELetter-april17|date=5 April 2017|access-date=17 October 2018}}</ref>

Aditya Birla Payments Bank earlier operated as IMCSL (Idea Mobile Commerce Services Ltd) as a brand of Idea Cellular Ltd.<ref>{{cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/idea-mobile-commerce-to-merge-with-aditya-birla-idea-payments/articleshow/52044168.cms|title=Idea Mobile Commerce to merge with Aditya Birla Idea Payments|date=29 April 2016|publisher=[[The Economic Times]]|access-date=17 October 2018}}</ref>

Aditya Birla Nuvo Limited holds 51 percent shares while the remaining 49 percent are with Idea Cellular.<ref name=hbl />

Aditya Birla Payments Bank, which was a joint venture between [[Aditya Birla Group|Aditya Birla Nuvo]] and [[Idea Cellular]], discontinued its banking business within 2 years of its inceptions due to lack of funds.<ref>{{Cite web|title=Aditya Birla Group closes its banking business within 2 years of operations - ET BFSI|url=https://bfsi.economictimes.indiatimes.com/news/banking/aditya-birla-group-closes-its-banking-business-within-2-years-of-operations/70298448|access-date=2020-07-23|website=[[The Economic Times]]|language=en}}</ref>

==References==
{{Reflist|30em}}

==External links==
{{Portal|Banks}}
* {{Official website|https://www.adityabirla.bank/}}

[[Category:Payments banks]]
[[Category:Banks established in 2016]]
[[Category:Online payments]]
[[Category:Indian brands]]
[[Category:Privately held companies of India]]
[[Category:Indian companies established in 2016]]
[[Category:Banks disestablished in 2019]]
[[Category:2019 disestablishments in India]]
[[Category:2016 establishments in Maharashtra]]
[[Category:Banks based in Mumbai]]