Paytm is one of the 11 entities that has got in-principle nod from the Reserve Bank of India (RBI) to set up payments banks. In an interaction with Deccan Herald, Amit Lakhotia, Vice President, Payments, Paytm, says payments banks will make transactions easier. “Almost half of Indians do not have bank accounts and most of them, nearly 90-95 per cent of them, use ATM cards to withdraw money and use cash for transactions. Payments banks come with a specific purpose to make transactions easier. The typical banking model is the CASA model. It is like you take deposits from one set of consumers and lend it to a different set of consumers and you keep the difference. But the payments bank...
↧