Aditya Birla Nuvo forms JV with Idea for Payments Bank
20 February, 2016 | The Economic Times
ShareThe Economic Times
20 February 2016
New Delhi: Aditya Birla Nuvo (ABNL) on Friday announced formation of a joint venture with group firm Idea Cellular to set up a payments bank. Last year in August, RBI had given in-principle approval to the company to set up a payments bank under the guidelines for licensing of payments banks. The company jointly with Idea has incorporated a new subsidiary for the aforesaid purpose in the name and style of Aditya Birla Idea Payments Bank.
