https://indianpedia.org/index.php?action=history&feed=atom&title=Aditya_Birla_Payments_BankAditya Birla Payments Bank - Revision history2026-07-31T08:32:16ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=Aditya_Birla_Payments_Bank&diff=465042&oldid=prevViolaCnr7137989 at 00:58, 17 February 20262026-02-17T00:58:04Z<p></p>
<p><b>New page</b></p><div>{{short description|Indian bank}}<br />
{{Use dmy dates|date=June 2022}}<br />
{{Use Indian English|date=June 2022}}<br />
{{Infobox company<br />
| name = Aditya Birla Payments Bank<br />
| type = [[Privately held company|Private]]<br />
| industry = [[Financial services]]<br />
| founded = {{Start date and age|2016|02|19|df=yes}}<br />
| fate = Closed (2019)<br />
| hq_location_city = [[Mumbai]]<br />
| hq_location_country = [[India]]<br />
| key_people = {{ubl |Dev Bhattacharya (Non-Executive Director)|Sudhakar Ramasubramanian (MD & CEO)}}<br />
| products = Savings Account, BHIM ABPB UPI, ABPB Wallet, ABPB Payments Gateway<br />
| services = Banking, Payments & Payments Systems, UPI, NEFT, IMPS, Third Party Loan Referral, Digital wallet, Group Insurances<br />
| parent = [[Grasim Industries|Grasim Industries Limited]] (51%)<br/>[[Idea Cellular|Idea Cellular Limited]] (49%)<br />
| website ={{url |https://www.adityabirla.bank/}}<br />
}}<br />
<br />
'''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><br />
<br />
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><br />
<br />
==History==<br />
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><br />
<br />
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><br />
<br />
Aditya Birla Nuvo Limited holds 51 percent shares while the remaining 49 percent are with Idea Cellular.<ref name=hbl /><br />
<br />
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><br />
<br />
==References==<br />
{{Reflist}}<br />
<br />
==External links==<br />
{{Portal|Banks}}<br />
* {{Official website|https://www.adityabirla.bank/}}<br />
<br />
[[Category:Payments banks]]<br />
[[Category:Banks established in 2016]]<br />
[[Category:Online payments]]<br />
[[Category:Indian brands]]<br />
[[Category:Privately held companies of India]]<br />
[[Category:Indian companies established in 2016]]<br />
[[Category:Banks disestablished in 2019]]<br />
[[Category:2019 disestablishments in India]]<br />
[[Category:2016 establishments in Maharashtra]]<br />
[[Category:Banks based in Mumbai]]</div>ViolaCnr7137989