Yak Paytm Payments Banking Venture Launched - Of Import Details To Know

Vijay Shekhar Sharma-led digital wallet Paytm today launched its Payments Bank operations inwards Delhi-NCR. With this, in that place are iii payments banks at nowadays inwards India, including Airtel Payments Bank Ltd together with Republic of Republic of India Post Payments Bank Ltd. Paytm received licence from the RBI to opened upwards payments banking enterprise inwards 2015 together with was scheduled to commence operations roughly Diwali terminal year, but got delayed yesteryear several months. Here are some of import points yous should know near Paytm Payments Bank.

Important Points near Paytm Payments Bank :

• The banking enterprise volition offering iv per cent involvement per annum on deposits. Rival payments banks Airtel together with Republic of Republic of India Post offering higher involvement rates at 7.25 per cent together with at 4.5-5.5 per cent respectively.
• The kickoff 1 1000000 customers to opened upwards an trouble organisation human relationship amongst Paytm Payments Bank together with accomplish a deposit of Rs 25,000 volition larn a cashback of Rs 250 instantly.
• Paytm Payments Bank accounts volition initially endure available on an invite-only basis. In the kickoff phase, the companionship volition coil out its beta banking app for its employees together with associates.
• Paytm Payments Bank volition offering nil residual accounts together with all online transactions via channels similar IMPS, RTGS, together with NEFT volition endure free.
• Paytm Payments Bank tin bring Rs 1 lakh per account, every bit per RBI (Reserve Bank of India) guidelines for payment banks. H5N1 payments banking enterprise cannot lend or give advance to customers. It tin result banking enterprise fit books together with debit cards but non credit cards.
• Paytm volition offering virtual Rupay debit cards to customers at nowadays together with physical bill of fare on asking for withdrawing cash from whatever ATM inwards the country.
• If yous are an existing Paytm user your coin volition endure transferred to the Paytm Payments Bank Limited every bit the wallet trouble organisation volition transcend away purpose of the novel company. It volition plow over automatically, together with yous involve non create anything.
• The initiatory branch of Paytm Payments banking enterprise opens inwards the National Capital portion of Delhi inwards Noida on Tuesday. The companionship has a target of acquiring 500 1000000 customers yesteryear 2020.
• Paytm Payments Bank volition larn Rs 400 crore inwards investment inwards the kickoff ii years of operation. One97 Communications founder Vijay Shekhar Sharma owns a 51 per cent stake inwards the payments bank, every bit per regulatory requirements, amongst the remaining stake owned yesteryear One97 Communications. Sharma together with One97 get got together invested near Rs 220 crore inwards the payments banking enterprise together with hence far.

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