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Paytm payments bank now open: It offers 4% interest, cashbacks on deposits

Targeting 500 million customers by 2020, digital payments firm Paytm today launched its payments bank with 4 per cent interest rate and cash backs on deposits, zero fees on online transactions and no minimum balance requirement.  Backed by Chinese firm Alibaba and Japanese conglomerate SoftBank, the company has earmarked initial investment of Rs 400 crore to build its banking network ... Read More »

Paytm’s payments bank gets RBI nod

Paytm Payments Bank Ltd (PPBL) has received the final licence from the RBI which would enable the brand to start the payments bank. It is expected to commence its operations on May 23, 2017. The company will transfer its wallet business which is predominantly found in most of the smartphone and boasts over 218 million users, to the newly incorporated ... Read More »

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