Paytm Payments Bank RBI approval

Paytm Payments Bank RBI approval

Paytm RBI has received final approval for the payment from the bank. The company said that the bank is expected to begin operations next month. Payment banks and small businesses can deposit up to Rs one lakh per account.

Vijay Shekhar Sharma, founder of One97 Communications, said in a blog post, "Today, the Reserve Bank introduced the bank to pay Paytm formally approved. We can not wait to bring it to you."

He Paytm bank in the banking industry, our goal is to create a new business model, banking financial services to disadvantaged or less in the range of banking services is to bring Indian.


When contacted, the company spokesperson said Paytm bank expects that its operations will begin in February. The first branch will be opened in Noida.

Paytm before Diwali last year, was to begin operations. In 2015, the Reserve Bank of One97 Communications Vijay Shekhar Sharma, founder of "the principle" approval was granted. With 10 other banks set payment was approved. Tech Mahindra later three units, Coromandel Investment and Finance Co. and Dilip Sanghvi, IDFC and Telenor combine financial services with bank licensing had retreated.

Airtel currently only bank that commenced operations. Aditya Birla payment bank will start operations in the first half of 2017. Sharma's majority stake in the bank will pay Paytm. The remaining stake will be held by One97 Communications.