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Paytm, an Indian digital payments firm has launched a niche payments bank on Tuesday that aims to acquire 500 million customers in the next three years.
India’s biggest electronic wallet has been run by Paytm. It has said that it is going to offer an interest rate of 4 percent per annum on deposits.
The company has said that Paytm Payments Banks aims to open 31 branches and 3,000 customer service points in its first year of operations.
