Current Affairs Economy & Banking

Category : Economy & Banking

Airtel Payments Bank has launched ‘Suraksha Salary Account’ for Micro, Small and Medium Enterprises (MSME). India’s MSME sector has over 60 million units and accounts for 29 per cent of India’s GDP.

About ‘Suraksha Salary Account’: Through this innovative account construct, MSMEs and other organisations will be able to make cashless payments and also provide a financial security blanket to their employees. The account offers benefits such as Hospicash Insurance and personal accident insurance cover, keeping in mind the low penetration of insurance in India. The account has no minimum balance condition. Account-holders will be able to make cash withdrawals at Airtel Payments Bank’s 500,000 banking points across India. There are no charges on cash withdrawals of up to Rs 50,000 and deposits of up to Rs 20,000 in one month. Customers will also be able to make cash deposits and transfer money at these points.