Paytm Payment bank expects 10 crore savings account in current year; opens branch in Delhi

With 4.4 crore accounts associated with Paytm Payment bank, the company looks to more than double the savings accounts this year as it launched its first branch in Delhi on Wednesday. Second in line after the company’s Noida headquarter, the branch will cater to customer services and will establish Paytm’s presence with the customers, CEO and MD Satish Kumar Gupta told Financial Express Online.

“The branch will also provide a range of services related to PPBL savings account, current accounts and wallet such as statement issuance, instant debit card issuance, KYC completion, and more,” Paytm bank said in a release. Also, cash deposit for Paytm bank users and cash withdrawing for all banks will be made available in the branch, it added.

However, Paytm does not intend to open many branches. “If we open branches further it will be in single digit, nationally in the next two or three years.