Paytm allocates ₹400 crore for its Payments Bank
Paytm has allocated ₹400 crore to speed up the launch of its Payments Bank, that was earlier supposed to launch in March 2016. Paytm also plans to hire 3,000 people to run the bank, and has roped in ex-Airtel executive Saurabh Sharma to join the company as VP. Payment Banks aim at providing services to labourers, low-income households and small businesses.