Question

India's first live Payments Bank was launched by

• A. Aditya Birla Idea
• B. Cholamandalam
• C. Bharti Airtel
• D. Paytm

Answer 1

The Correct Option is C

To solve the question regarding which organization launched India's first live Payments Bank, we need to evaluate the options based on factual information about the history of payments banks in India.

In August 2015, the Reserve Bank of India (RBI) had given in-principle licenses to 11 entities to launch payments banks. Bharti Airtel was one of these entities.

The first live Payments Bank in India was launched by Bharti Airtel. Airtel Payments Bank became operational on November 23, 2016, in Rajasthan as a pilot project before the full-scale pan-India launch. This initiative was aimed at deepening financial inclusion by providing banking services to a wider range of customers through digital platforms and physical outlets.

Other entities mentioned in the options such as Aditya Birla Idea, Cholamandalam, and Paytm either launched their payment banks later or were not primarily recognized as the first live launch.

Therefore, the correct answer is:

Bharti Airtel

Let's now briefly explain why the other options are incorrect:

• Aditya Birla Idea: Although a prominent business group in India, they did not launch the first payments bank.
• Cholamandalam: Known for financial and insurance products but not related to launching any payment bank.
• Paytm: Launched its payments bank later in 2017, after Bharti Airtel.

This reasoning confirms that the first live Payments Bank was indeed launched by Bharti Airtel.