Paytm Payment Bank Start From 23 May 2017.Renu Satti is the New C.E.O of The PPBL.

Paytm Payment Bank Start From 23 May 2017.Renu Satti is the New C.E.O of The PPBL.

Paytm Wallet, going to be paytm bank. After the delay of several months, the paytm bank will now start paying on May 23. Paytm has got final approval from the Reserve Bank for this. RBI has approved e-wallet  form a payment bank. Paytm wallet which was issued by One 97 Communication Limited so far, will be issued soon by Paytm Payment Bank. The founder and CEO of Paytm Vijay Shekhar Sharma said that, this payment bank will work as an fully Indian bank.

Paytm has said that the aim of the company is to give access every Indian to the bank and to make penetration in the banking world on the basis of technology and innovation. Vijay Shekhar Sharma's 51% stake in Paytm Payment Bank. 

Important Points:

·        PayTm Payments Bank Limited PPBL Launched in India

·        RBI approved Final Payments Bank License to Paytm this week

·        Paytm public Notice: Operation going to launch in the month of may

·        14.4% interest per annum? Let’s see what paytm provide.

·        Paytm payments bank operations to begin on may 23.

·        Chinese “Softbank” bank also funded $1.4 billion to the payment bank operation.

·        You Can’t keep more than 1lac on your account

·        Payment bank can allow debit cards but not credit cards.

·        No loan will be provided under any circumstances.

 

Paytm  will transfer the entire turnover of their Wallet to PPBL. It involves people using 21.80 million mobile wallet. License of payment bank has been received by Indian resident Vijay Shekhar Sharma. Vijay Shekhar Sharma is the founder of One97 Communications, paytm owned by one97 communications. Patyma Wallet has been issued by One97 Communications Limited.

Paytm  said in a public issued notice that "Paytm Payment Bank Limited (PPBL) has got the final license from the Reserve Bank and it will start working from May 23, 2017." Paytm's spokesperson said, "We have recently got approval from the Reserve Bank about Renu Satti being the CEO." Renu came to Paytm  as a Human Resources Manager in 2006 and has worked in various departments of the company over time.

Will our money be drowned?
Contradicting the rumor of the payment wallet closure, Vijay Shekhar tweeted that "Your petty wallet will continue even after January 15th. It is rumored that it will not run after January 15 which is wrong. '

What do we need to do
Paytm wallet will be automatically transferred to Paytm Payment Bank. The customer does not have to do anything for this. In addition, whatever money the client has in Paytm Wallet, they will be absolutely safe.

If someone has not used their Paytm account for the last 6 months and the account balance is zero then you have to log in with your account and send a confirmation mail. Only after this process, customers will be able to avail of Paytm Payment Bank.

The notice states that if a customer does not want to use Paytm Wallet then he will have to give information to the company in advance, or by giving information on paytm.com/care, your balance will be transfer in your bank account at one click.