On January 3rd 2017, Paytm one of India’s leading mobile payments company received approval from the Reserve Bank of India (RBI) to launch a digital bank. On their blog, Mr. Vijay Shekhar said “Today, Reserve Bank of India gave permission to formally launch Paytm Payments Bank. We can’t wait to bring it in front of you.
At Paytm Payments Bank, our aim is to build a new business model in banking industry, focussed on bringing financial services to 100’s of millions of un-served or underserved Indians. With power of technology and innovation-at-scale, we aim to become a benchmark in world of banking”
Exactly 3 years ago on January 3rd 2014, they had launched Paytm mobile wallet, which is the leading wallet at the moment and now they have got permission from RBI to open digital bank. Great Progress 🙂 . However we are yet to see the benefits that Paytm Bank will offer to its customer.
image and news credit: paytm