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Paytm gets RBI approval for payments bank


Date: 4-January-2017

Paytm has received final approval of the Reserve Bank to formally launch its payments bank and it expects to start operations next month. Payments banks can accept deposits from individuals and small businesses of up to Rs 1 lakh per account. Vijay shekhar said, the aim is to build a new business model in banking industry, focussed on bringing financial services to hundreds of millions of unserved or underserved Indians.

 
 
 
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