Paytm to split its wallet and e-commerce business
Paytm is splitting its wallet and e-commerce businesses and transferring its digital wallet to yet to be launched Paytm Payments Bank, where Founder Vijay Shekhar Sharma holds a 51% stake. Paytm is one of the 11 recipients of payments bank licences which were given by RBI in August 2015. Paytm plans to launch its payments bank early next year.