Airtel Payments Bank received Scheduled Bank Status

Current Context: The Reserve Bank of India (RBI) has granted scheduled banks to Airtel Payments Bank.

• The status is given in the second schedule of the Reserve Bank of India Act, 1934.
• Now onwards, the Airtel Payments Bank can pitch for the government.
• It has become 4th payment bank to receive the status.
• It will be able to perform business opportunities with central and state governments.
• It can also participate in primary auctions and in government welfare schemes.
• Static Part: 
• HQ of Airtel Payments Bank: New Delhi
• MD and CEO of Airtel Payments Bank: Anubrata Biswas