Airtel Payments Bank rolls out ‘Suraksha salary account’ for MSMEs

Airtel Payments Bank on Monday launched ‘Suraksha Salary Account’, designed specifically 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.

These units employ large number of informal labour force who are not eligible for social and healthcare benefits as part of their salaries, and lack of any financial protection makes them vulnerable, particularly in the current times, Airtel Payments Bank said.

“Suraksha Salary Account has been desig-ned specifically for this consumer cohort.

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,” it said.