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Aditya Birla Payments Bank closes operations 17 months after launch

R Sinduja

News Editor

Nearly 17 months after it started operations, Aditya Birla Idea Payments Bank Ltd announced winding up of its operations. The payments bank asked its customers to transfer their balances before July 26. The company's statement said- 'The decision has been taken due to unanticipated developments in the business landscape that have made the economic model unviable.' The Aditya Birla Payments Bank was launched in February 2018.