Paytm Payments Bank CEO Renu Satti. Last week, Paytm Payments Bank launched physical debit cards for its customers to facilitate account holders to withdraw cash from ATMs and make offline payments. Paytm Payments Bank was launched in November after receiving a payments bank license from RBI in January last year. Vijay Shekhar Sharma, founder of One97 Communications, holds the majority share in Paytm Payments Bank, with the rest being held by One97 Communications. India has three other operational payment banks—Airtel Payments Bank, India Post Payments Bank and Fino Payments Bank.

Source: Mint January 23, 2018 19:18 UTC