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Paytm Payments Bank to Start Onboarding New Customers from 31st Dec 2018

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Paytm Payments Bank to Start Onboarding New Customers from 31st Dec 2018

We're back again to serve you with all what we have! :smile:

· Resumes KYC for bank & wallet customers
· Aims to acquire 100 Mn customers by the end of 2019

New Delhi, December 31, 2018: Paytm Payments Bank Limited (PPBL), India’s largest digital bank has received a formal nod from the Reserve Bank of India (RBI) to start onboarding new customers while resuming KYC for the bank as well as wallet customers starting from 31st December 2018. Potential customers will now be able to open their ‘Savings’ or ‘Current’ account with PPBL.

PPBL has also recruited veteran banker Satish Gupta as its MD & CEO, who holds more than three decades of banking & payments system experience as he was previously associated with SBI and National Payments Corporation of India (NPCI). In sync with its vision, the bank aims to acquire 100 million additional customers by the end of 2019.

Satish Gupta, Managing Director & Chief Executive Officer, Paytm Payments Bank, said, “Paytm Payments Bank is on a mission to facilitate the last-mile delivery of banking services to each and every Indian. It also envisions catalyzing the digital adoption and acquainting more people with the touch-of-a-button experience. We believe it is going to help in the formalization of our economy and bring about the much-needed real financial inclusion.”
Paytm Payments Bank customers enjoy free banking services and earn an annual interest of 4% on their savings. PPBL has a very secure & robust technology infrastructure. PPBL allows its customers to keep a deposit up to Rs. 1 lakh in their account. Other features of PPBL account include real-time virtual passbooks, digital & physical debit card among others.

About Paytm Payments Bank :

Paytm Payments Bank is India’s largest digital bank, providing zero balance accounts and zero charges on digital transactions. Paytm Payments Bank aims to build a new business model in the banking industry that is focused on bringing financial services to 500 million un-served or underserved consumers across India. It is headquartered in the National Capital Region, India. Paytm Founder and CEO, Vijay Shekhar Sharma owns a majority stake in the company, and One97 Communications Ltd owns the remaining share.

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