New Delhi, Feb. 23 -- Bharti Airtel and its promoter group will inject Rs.20,000 crore into Airtel Money, its newly-licensed non-bank arm, a move that puts the telecom operator in direct competition with Mukesh Ambani's Jio Financial Services.

Airtel Money, a company incorporated in July, received a non-banking financial company (NBFC) licence earlier this month, Bharti Airtel informed the stock exchanges on 17 February. The non-bank lender will not be able to accept deposits, as per the Reserve Bank of India's (RBI) licensing terms.

In a statement issued on Monday, Bharti Airtel said it will contribute 70% of the capital, while the promoter group will bring in the remaining 30% through Bharti Enterprises Ltd.

Given the minimum capital...