Who Is Vying For Businesses Of Paytm Payments Bank? — NDTV Profit Exclusive

The announcement that Paytm is shifting its nodal account to Axis Bank confirmed speculation of big banks stepping up to acquire Paytm’s businesses. It also raised questions on who is vying for what.

<div class="paragraphs"><p>Paytm signage at a bus stop.(Source: File photo)</p></div>
Paytm signage at a bus stop.(Source: File photo)
On Feb. 16, as Paytm users were soaking in details from the Reserve Bank of India's FAQs, an announcement from the company stunned everyone. One97 Communications Ltd.-operated Paytm shifted its nodal account to Axis Bank Ltd. by opening an escrow account.With this, the Paytm QR, soundbox and card machines continue to work even beyond March 15, the extended deadline by the RBI for Paytm Payments Bank restrictions, the company said.Whi...
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