CURRENT AFFAIRS

Detailed explanation-1: -Airtel Payments Bank has partnered with Axis Bank, to digitise the cash collection system in India’s tier III cities and semi-urban regions. Airtel Payments Bank will leverage the extensive reach of its digital-led neighbourhood banking model to support Axis Bank with the digitization of last-mile cash collections.

Detailed explanation-2: -Airtel Payments Bank started with an 80:20 partnership between Bharti Airtel and Kotak Mahindra Bank. Bharti Airtel launched Airtel Payments Bank in September 2016 and went live with its pilot project in Rajasthan in November 2016.

Detailed explanation-3: -Airtel Payments Bank partners Axis Bank to digitise cash collection.

Detailed explanation-4: -Airtel Payments Bank partners Axis Bank to digitise last mile cash collection - The Hindu BusinessLine.

Detailed explanation-5: -The AePS is a bank-led model which allows online interoperable financial transactions at a point of sale (PoS) through business correspondent of any bank using the Aadhaar authentication. The AePS allows six types of transactions, including deposit and withdrawal.