Airtel Payments Banks Ranked As India’s Number One Bank

As per the recent report released by the Ministry of Electronics and Information Technology (MeitY) on digital transactions, Airtel Payments Bank has been ranked as the number one bank in India in terms of digital transactions target achievement in FY 18-19. In a summary of the performance of 56 banks in India, the results showed that Airtel Payments Bank ranked No. 1 and achieved 211.66% of its digital transactions target. It was followed by FINO Payments Bank and Paytm Payments Bank which overshot their targets by 209.31% and 122.95% respectively. The evaluation was done on several parameters, including the volume of transactions, the number of terminals for Aadhaar-based merchant payments deployed by them, and the average success rate of digital transactions.

The overall digital transactions of 211.6% done through Airtel Payments Bank include transactions made via UPI, Debit Card, Mobile Banking, Net Banking, Prepaid Card, PPI, NEFT among other methods.

Recently, Airtel Payments Bank has also enabled BHIM UPI-based payments at over 500,000 merchant points across India, allowing consumers to make digital payments for goods and services by using any BHIM UPI-enabled bank or payments app over their mobile phones.

Anubrata Biswas, MD & CEO – Airtel Payments Bank, said “We are delighted to be the no.1 Bank in India in terms of achieving the Digital Transactions target set by MEITY. This ranking reaffirms our focus on taking convenient digital banking services to the doorstep of every Indian. We will continue to make efforts towards sustaining this solid momentum and contribute to the Government’s vision of Digital India and financial inclusion.”―Times of India