Payments Bank :
Payments Bank is a new model of banks visualized
by the Reserve Bank of India.
These banks can accept a deposit, which is currently
limited to ₹1 lakh per customer and may be
Both current account and savings accounts can be
operated by such banks.
Payments banks can issue services like ATM cards,
debit cards, net-banking and mobile-banking.
The minimum capital requirement for the bank
is ₹100 crore.
Paytm is an Indian electronic payment and e-commerce
Launched in August 2010
It is a consumer brand of parent company One97
Paytm became the first Indian company to receive
funding from Chinese E-Commerce company Alibaba.
Founder and CEO : Vijay Shekhar Sharma
Paytm received a license from Reserve Bank of India to
start one of India's payments banks, called "Paytm
Payments Bank Limited".
Paytm Payments Bank launched operations on May 23,
Paytm Payments Bank will be regulated by RBI under all
guidelines applicable to a Payments Bank.
Chairman : Vijay Shekhar Sharma
CEO : Renu Satti
Payments Bank offers a Savings Account with no account
Account holder can Keep upto Rs. 1 lakh of deposits.
No charges for online transactions
Real time updated pass book can be seen in Paytm app.
Account number will be the mobile number of the
4% interest for the account.
Every Paytm Payments Bank account holder will be
issued a free digital card at the time of account opening.
It is a platinum Rupay Debit card.
This Virtual Debit card across most online websites and
apps in India.
DIGITAL DEBIT CARD
Account holders can Transfer funds and make payments
to any bank across India by three ways,
NEFT (National Electronic Funds Transfer)
IMPS (Immediate Payment Service)
UPI (Unified payment interface)
All these transactions can be done in free of cost.
Paytm payments bank cannot provide some services like,
What they can’t do…