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Idea Cellular to launch payments bank operations in June: Report

Idea Cellular, one of the biggest cellular carriers of the country, is reportedly planning to launch payments bank operations by the end of June 2017 and is signing up retailers who sell its telecom services to also double up as banking touch points to allow customers to carry out transactions. The company, that recently received the central bank’s final approval to open its payments bank, is in the process of integrating its systems with those of the National Payments Corporation of India and the RBI.

Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.

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