Paytm launches niche payments bank

Business News
(Last Updated On: May 23, 2017)

Indian computerized installments firm Paytm propelled a specialty installments put money on Tuesday, intending to get 500 million clients in the following three years, the organization said in an announcement.

Paytm, which runs India’s greatest electronic wallet, said it will offer a financing cost of 4 percent for every annum on stores.

The Paytm Payments Bank expects to open 31 branches and 3,000 client benefits focuses in its first year of operations, the organization said.

An installments bank is an establishment that can take stores and settlements yet can’t loan.

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