CURRENT AFFAIRS

Detailed explanation-1: -NEW DELHI, APRIL 18 (IANS): In line with the Reserve Bank of India’s (RBI) guidelines, Airtel Payments Bank on Sunday announced that it has become the first payments bank in the country to enable Rs 2 lakh day-end balance account limit.

Detailed explanation-2: -The maximum amount of cash that you can deposit at an Airtel deposit bank: ₹1, 00, 000. Maximum money you can add using the same debit card per day: ₹25, 000. The maximum amount of cash you can withdraw via a transaction: ₹25, 000.

Detailed explanation-3: -Although the deposit insurance cover was raised to Rs 5 lakh, with effect from February 4, 2020, the maximum balance a customer can hold in a PB at the end of the day has not been increased commensurately. RBI had doubled the maximum balance a customer can hold at end of the day in a PB to ₹2 lakh on April 8, 2021.

Detailed explanation-4: -On April 11, 2016, Airtel Payments Bank became the first entity in India to receive a payments bank license from the Reserve Bank of India (RBI). It intends to bring banking services to the doorstep of every citizen of the country. It plans to leverage Bharti Airtel?

Detailed explanation-5: -Airtel Payments Bank also does not have any minimum balance requirement.