After a year of the launch in February 2018, Aditya Birla Idea Payments Bank, in July 2019, had decided to shut down the company and now the company is proceeding towards its liquidation.

According to an ET report, the Reserve Bank of India (RBI), on November 18, said that post-application by the company for voluntarily winding up, Aditya Birla Idea Payments Bank is heading towards liquidation.

Besides Aditya Birla Idea Payments Bank, four other operators in the payments banking sector have also shut down their operations in the country.

According to RBI, in addition to the Aditya Birla Idea Payments Bank, six other payments banks are operational in the country.

These include Airtel Payments Bank, India Post Payments Bank, Fino Payments Bank, Jio Payments Bank, and Paytm Payments Bank and NSDL Payments Bank Limited. | To read full story, visit https://startuparound.com/read/1574186405.4678302/Aditya-Birla-Idea-Payments-Bank-Heads-For-Liquidation?ref=audio_experience