The Reserve Bank of India (RBI) gave approval 'in principle' for 11 entities on Wednesday to set up payments banks.
They are India Post, Reliance Industries Ltd., Aditya Birla Nuvo, Tech Mahindra, Sun Pharma, National Securities Depository Ltd., Airtel M Commerce Services Ltd., Vodafone m-pesa Ltd., Cholamandalam Distribution Services Ltd., Fino PayTech Ltd. and PayTMs.

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