Idea was also one of 11 applicants to get a payments bank licence from the Reserve Bank of India. It had applied for a Payments Banks license in a 49:51 joint venture with Aditya Birla Nuvo Limited. On April 03, 2017, Aditya Birla Payments Bank Limited received a license from RBI. The payments bank services were slated to be launched in Q2FY18 after necessary regulatory approvals. Idea Money will be folded into the payments bank operations, the company said in the quarterly report.