After getting the green signal from Reserve Bank of India, the Indian payment, and commerce company Paytm to begin with its payment banks operations from May 23, 2017.
In a statement company spokesperson said, “We are in process of launching Paytm Payments Bank on May 23, as we recently received an approval from the RBI for Renu Satti to be the CEO”.
It was learnt that the company has appointed Renu Satti as the CEO of the newcomer Paytm Payments Bank. Although, Renu Satti is currently the vice president of business at Paytm.
If the user is confused how payments bank will work, then the company has assured that nothing would change in the user experience. Moreover, the user will continue to use the e-wallet in the same way as they were using previously to pay for food, shopping etc.