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Asia-PacificMay 1 2018

Paytm Payments Bank looks to 500 million mark

Renu Satti, CEO at the banking arm of India’s largest e-commerce platform, Paytm, tells Stefania Palma how it intends to achieve its ambitious growth plans.
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Paytm Payments Bank aims to have 500 million customers in the next three years, or the equivalent of the populations of the US and Indonesia combined.

Currently, Paytm Payments Bank – the banking arm of Paytm, India’s largest mobile e-commerce website, which also offers digital payments – has 180 million customers. This is remarkable, considering the bank officially launched only in November 2017. It followed the Reserve Bank of India (RBI), the country's central bank, selecting Paytm as one of the e-commerce platforms to receive a banking licence, in an effort to modernise a sector historically plagued by non-performing loans and poor bank capitalisation. 

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