Paytm Payments Bank, Payments Bank, Paytm Payments Bank Release Date, How to Open Paytm Payment, How to Apply for Payment Bank, Paytm Payment Bank full details, What is Payment Bank, How to Apply for Paytm Payment Bank : One97 communications Noida Based Company, The parent company of Paytm announced that it plans to merge Paytm Wallet into Paytm Payments Bank. Vijay sekhar sharma says After Building it from concept to a strong category leader. One97 Communication soon to transfer Paytm wallet Cash into Paytm Payments Bank. Paytm wallet business will be transfer to Paytm Payments Bank Ltd on 23 May, 2017. Don’t wary If you don’t want to continue with your Wallet with Paytm Payments Bank, you can opt out before 23 May, 2017 by sending a mail to email@example.com . So, Read this full article to know Full details about Payment Bank of Paytm
What is Paytm Payments Bank:-
Paytm Payments Bank Can accept deposits restricted to Rs 1 lakh per customer, and allowed to pay customer interest on the money that is being deposited. they can be used for either current accounts or saving accounts.
Paytm wallet will now be a part of Paytm Payment Bank. As per Paytm public statement, the current Paytm wallet owner can login into Paytm account and Transfer their existing balance to their bank accounts by providing account details.
Vijay Shekhar Sharma, the chief executive officer of one97 Communication was granted in-principal payment bank license by RBI earlier this year. Vijay Shekhar Sharma Reportedly owns 51% of Paytm Payments Bank, while one97 communication has the remaining 49 percent
How to Apply for Paytm Payment Bank ?
If you have a Old Paytm Account, Then it will be convert to Paytm Payments Bank account on 23rd May 2017.
Note – If you wish not to continue with your Wallet with Paytm Payments Bank, you can opt out before 23 May, 2017 by sending an email to firstname.lastname@example.org
Paytm Payments Bank Official Statement on Facebook:-
Just like a daughter grows up and goes to her new family & home, We at One97 saw it from a concept to a well grown up name today. Our company One97/Paytm will transfer your Paytm Wallet to her new home, Paytm Payments Bank — A fully Indian entity, being built to make India proud in banking space.”
New Features in Paytm Payments Bank :-
1] As per the directions of the Reserve Bank of India (RBI), One97 Communications will be transferring its wallet business after receipt of necessary approvals to the newly incorporated Paytm Payments Bank Limited (PPBL).
2] Paytm Payments Bank Limited (PPBL) is 51% owned by Vijay Shekhar Sharma & 49% ownership is with One97 Communications Ltd. Paytm Payments Bank is a truly Indian company owned & operated by Indians.
3] Currently, all money transfers from Paytm Wallet to any Bank account is 0% for all users. Once we launch Paytm Payments Bank, we will ALWAYS allow you to transfer money from Paytm wallet to Paytm Payments Bank Account at 0% even after 31 Dec’16.
RBI last Year granted an “in-principle payments bank license” including Airtel, Vodafone, Department of posts, RIL, Aditya Birla Nuvo & one97 Communications (Paytm).