Paytm Payments Bank gets Scheduled Bank Status

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Paytm Payments Bank gets Scheduled Bank Status
10 Dec 2021
4 min read

News Synopsis

The Reserve Bank of India has given the Paytm Payments Bank the status of scheduled banks. With this approval, it will be able to provide more financial services and products to the customers. The approval also gives it the access to explore more business opportunities.

The MD and CEO of Paytm Payments Bank, Satish Kumar has said that they are witnessing a fast adoption of digital workplace services and the users are also appreciating the digitalization in the banking sector.

Paytm currently handles over 15.5 crore Paytm UPI, which is used for the exchange of payments, making it one of the largest beneficiary banks and one of the top remitter banks for UPI transactions in the country. Along with this, it is also the biggest issuer and acquirer of FASTags in the country.

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