Jio Financial Services, HDFC Bank frontrunners to buy Paytm’s wallets biz

Paytm is in exploratory talks to sell its wallets business. HDFC Bank and Jio Financial Services (JFSL) are among the forerunners to acquire it, Hindu Businessline (BL) reported on Monday, citing fintech and banking executives. The company’s wallet business is housed under Paytm Payments Bank.

The report comes days after the Reserve Bank of India (RBI) barred the Paytm Payments Bank from accepting deposits from February 29. The BL report added that Paytm has been in talks with JFSL since November last year.