Paytm Payments Bank incurs loss
Paytm Payments Bank incurred losses to the tune of `30.7 crore between August 2016 and 31 March 2017 as per documents filed with the corporate affairs ministry. The bank had started operations in May 2017 though it had come into being in August 2016. During August 2016 - March 2017, it had revenues of `2.47 crore. The bank had said it is in the process of expanding its footprint, which will be spread across metro, urban, semi- urban and rural areas. It has plans to set up 31 branches, 33 controlling offices and 3000 access points by 31 March 2018.