PayTM payment bank has recently claimed to crossed INR 1000 Crore in their deposits and now, they have around 57 million saving accounts holder.
According to the reports, it is done due to the pandemic outbreak during which people are getting familiar with digital platform.
After getting the report, the bank has opened the option of Direct benefit transfers. This scheme is more like he government schemes like Old age pension, LPG gas subsidy, MNREGA Payments and such. This is also a government policy.
The CEO and managing director of the company said- “We have always strived to provide a wholesome banking experience to our users, and direct subsidy transfers would help millions of customers, especially those from the tier 2 & 3 cities,”
The payments bank said that PPBL’s savings account holders can opt for DBT by submitting an online request through their Paytm Payments Bank Android app. Once the required details are submitted, it would take 2-3 days to process the request.
The company has also said that they have more than 57 million digital debit cards and they have the partnership with VISA, Rupay and Master card as well.