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List of Banks permitted for issuance and operation of Prepaid Payment Instruments in India as on November 09, 2022
S No. Name of the Banks
1 Airtel Payments Bank Limited
2 American Express Banking Corporation
3 A. P. Mahesh Co-operative Urban Bank Limited
4 Au Small Finance Bank Limited
5 Axis Bank Limited
6 Bandhan Bank Limited
7 Bank of Barodaµ
8 Bank of India
9 Bank of Maharashtra
10 Barclays Bank PLC
11 Canara Bank
12 Central Bank of India
13 Citi Bank N.A.
14 City Union Bank Limited
15 DBS Bank India Limited
16 DCB Bank Limited
17 Equitas Small Finance Bank Limited
18 ESAF Small Finance Bank Limited
19 Fincare Small Finance Bank Limited
20 Fino Payments Bank Limited
21 First Rand Bank
22 HDFC Bank Limited
23 ICICI Bank Limited
24 IDBI Bank Limited
25 IDFC FIRST Bank Limited
26 Indian Bank
27 Indian Overseas Bank
28 IndusInd Bank Limited
29 Jana Small Finance Bank Limited
30 Jio Payments Bank Limited
31 Karnataka Bank Limited
32 Karur Vysya Bank Limited
33 Kerala Gramin Bank
34 Kotak Mahindra Bank Limited
35 Lakshmi Vilas Bank Limited
36 NSDL Payments Bank Limited
37 Paytm Payments Bank Limited
38 Pragathi Krishna Gramin Bank
39 Punjab National Bankα
40 Punjab & Sind Bank
41 SBM BANK (INDIA) LTD.
42 South Indian Bank Limited
43 Standard Chartered Bank
44 State Bank of India@
45 Tamilnad Mercantile Bank Limited
46 The Ahmedabad Mercantile Co-operative Bank Limited
47 The Catholic Syrian Bank Limited
48 The Dhanlaxmi Bank Limited
49 The Federal Bank Limited
50 The Gujarat State Co-operative Bank Limited
51 The New India Co-operative Bank Limited
52 The Rajasthan State Co-operative Bank Ltd.
53 TJSB Sahakari Bank Limited
54 RBL Bank Limited
55 The Saraswat Co-operative Bank Limited
56 UCO Bank
57 Union Bank of Indiaβ
58 Yes Bank Limited
@ As per the Government of India order dated February 22, 2017 regarding acquisition of State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore by State Bank of India, the erstwhile associate banks of SBI have merged with SBI with effect from April 1, 2017.
µ As per the Government of India Gazette Notification dated January 02, 2019, Vijaya Bank and Dena Bank amalgamated with the Bank of Baroda with effect from April 01, 2019.
α As per the Government of India Gazette Notification dated March 4, 2020, Oriental Bank of Commerce and United Bank of India amalgamated with Punjab National Bank with effect from April 01, 2020.
β As per the Government of India Gazette Notification dated March 4, 2020, Andhra Bank and Corporation Bank amalgamated with Union Bank of India with effect from April 01, 2020.
Ω As per the Government of India Gazette Notification dated March 4, 2020, Syndicate Bank amalgamated with Canara Bank with effect from April 01, 2020.
ℼ As per the Government of India Gazette Notification dated March 4, 2020, Allahabad Bank amalgamated into Indian Bank with effect from April 01, 2020.

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