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In January 2018, Paytm Payments Bank partnered with IndusInd Bank to offer fixed deposits. [25] It entered into a partnership with MasterCard for the issuance of virtual and physical debit cards in April 2020. [26] In January 2021, it tied up with Suryoday Small Finance Bank to offer fixed deposit services to its account holders. [27]
Paytm Payments Bank and Airtel Payments Bank together command over 88% of the deposits in payment banks in India in 2018. According to the Reserve Bank of India 's report on ‘Trend and progress of Banking in India 2017-2018', the payment banks reported losses in the financial year 2017-2018, after a weak performance in the FY 2016-17.
India Post Payments Bank, abbreviated as IPPB, is a division of India Post that is under the ownership of the Department of Post, a department under the Ministry of Communications of the Government of India. Opened in 2018, as of March 2024, the bank has more than 9 crore customers. [1]
Paytm was founded in August 2010 with an initial investment of US$2 million by its founder Vijay Shekhar Sharma in Noida, Delhi NCR. It started off as a prepaid mobile and DTH recharge platform, and later added debit card, postpaid mobile and landline bill payments in 2013. [14]
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI).
The Ministry of Finance is a ministry of the Government of Maharashtra. It is responsible for preparing annual plans for the development of Maharashtra state. [1] [2] The Ministry is headed by a Cabinet level Minister. Ajit Pawar is current Deputy Chief Minister of Maharashtra and Minister of Finance.
The Ministry of General Administration सामान्य प्रशासन विभाग, महाराष्ट्र शासन is a ministry of the Government of Maharashtra. It is responsible for preparing annual plans for the development of Maharashtra state. [1] The Ministry is headed by a cabinet level Minister.
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.