Aditya Birla Idea Payments Bank ceased to be a banking company: RBI
- The Reserve Bank of India has issued a notification to all banks on September 03, 2020 stating that “Aditya Birla Idea Payments Bank Limited” has ceased to be a banking company within the meaning of the Banking Regulation Act, 1949 with effect from July 28, 2020.
- Apart from this, “Westpac Banking Corporation” also ceases to be a banking company as announced by RBI.
Points to remember:
- Recently which Payments Bank ceased to be a banking company?- Aditya Birla Idea Payments Bank.
Source: RBI