With the objective of deepening financial inclusion, the RBI kicked off an era of differentiated banking by allowing SFBs (small finance banks) and PBs (payments banks) to start services. After receiving a license from the RBI, Aditya Birla Nuvo set up a 51:49 joint venture - Aditya Birla Idea Payments Bank Ltd - with telecom major Idea Cellular to launch payments bank services in the country. Payments banks can accept deposits from individuals and small businesses up to a maximum of Rs 1 lakh per account.