Paytm Launches Payments Bank, Offers Cashback On Deposits

Digital payments firm Paytm has launched its payments bank operation on Tuesday, aiming to acquire 50 crore customers in the next three years, the company said in a statement. Paytm, which runs India's biggest electronic wallet, said it will offer cashback on deposits, becoming India's first bank to do so. "Every customer to open a Payments Bank account will get a cashback of Rs 250 as soon they bring deposits of a total of Rs 25,000...