State wise list of Airtel Payments Bank Limited IFSC code, MICR code and addresses of all branches in India
(used for RTGS and NEFT transactions)
|MICR Code||MICR not provided.|
|Bank||AIRTEL PAYMENTS BANK LIMITED|
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An IFSC code, referred to as the Indian Financial System Code, is nothing but an alphanumeric key that helps users identify a particular bank and its branch. IFSC code is used along with other bank details while initiating online transfer of funds mainly through the three well-known and widely used payment systems in India: Real Time Gross Settlement (RTGS), Immediate Payment Service (IMPS) and National Electronic Fund Transfer (NEFT).
Customers of Airtel Payments Bank, which offers internet banking facility, have to enter the IFSC code to remit money using NEFT, IMPS or RTGS.
An IFSC code contains 11 unique alphanumerical characters. The first four characters refer to the name of the bank, while the last 6 refer to the code of the branch. The 5th character is usually a 0. Take a look at a sample IFSC code of Airtel Payments Bank: AIRP0000001. Here, AIRP is the name of the bank, 0 is the 5th character and 000001 is the branch code, which, in this case, is Gurgoan.
Customers can find the respective IFSC and MICR code of Airtel Payments Bank on the company’s website. Go to the Aitel Payments Bank section on the Airtel website to view these details. The same information can also be obtained through the Airtel Payments mobile app.
IFSC and MICR code of Airtel Payments Bank can also be found on a list of third party websites such as bankbazaar.com. Just log on to bankbazaar.com and click the ‘Bank IFSC Code’ option. This will redirect you to the IFSC main page. Here, provide details such as bank name, state, district and branch. The website will display the code immediately.
To transfer money using Airtel Payments Bank through NEFT, IMPS and RTGS facilities, a customer has to provide the following information to the bank:
Fee for fund transfer:
|Transfer within Airtel Payments Bank through internet or mobile banking||No charges|
|From Airtel Payments Bank to other bank||0.5% of amount transferred|
A subsidiary of Bharti Airtel Limited, Airtel Payments Bank is the first company in India to be granted a payments bank license by the Reserve Bank of India. The aim is to create an environment of financial inclusion in India by making banking services available at fingertips. The bank will make use of the wide network and customer base of Bharti Airtel to provide services.
Social media application company Hike Messenger has now joined hands with Airtel Payments Bank. More than 100 million Hike customers will now be able to use Airtel Payments Bank.
Now, Hike customers will be able to use the Airtel platform to make utility payments, pay merchants online and also initiate fund transfers. Users will also be able to get access to the KYC infrastructure.
According to new Reserve Bank of India (RBI) guidelines, there will be interoperability between various wallets through the Unified Payments Interface (UPI). There is also the probability of having more stringent KYC rules and regulations as far as compliance is concerned.
In the recent past, more and more banks are collaborating with payments banks and digital wallets in an effort to expand their own digital product portfolio of offerings. This month, IDFC Bank collaborated with Mobikwik to introduce a virtual credit card. In fact, as many as 65 million virtual cards are likely to be issued to customers as part of this initiative.
The digital payments ecosystem is changing and more and more people are embracing this type of payment method.
24th November 2017
The Unified Payments Interface (UPI) payment system will now be available to all Airtel Payments Bank users. With this, the app-based payments service has become one among the first payments banks to collaborate with UPI to offer digital payment services to consumers in the country.
Speaking on the development, Shashi Arora, Airtel payments Bank MD and CEO, said that this new integration will enable as many as 20 million Airtel Payments Bank customers to use UPI and make digital payments, both online and offline. Apart from this, Airtel Bank customers will have the facility to be able to link their bank accounts with the BHIM app.
Please note that there are no transaction charges or fees for the respective service. One can initiate fund transfers either by using the UPI interface or the BHIM one. Airtel customers who were transferring money through the payments bank app, were being charged a certain fee. This is not the case now.
To avail UPI services, customers have to provide their account details and create a Virtual Payment Address (VPA). This service will also allow customers to make payments on merchant purchases using the special UPI QR code for various purchases such as retail, travel, insurance and merchant related payments.
3rd October 2017
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