Paytm Payments Bank Reports a Profit of Rs.19 Crore | CashKaro News Network

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Paytm Payments Bank Reports a Profit of Rs.19 Crore

Paytm Payments Bank (PPB) recently reported that it had earned a profit of Rs.19 Crores in FY 2018 – 19. The PPB is a subsidiary of Paytm that was launched for public use back in the year 2017.  The company also claims that nearly a third of the total mobile banking transactions in India are powered by PPB. While in the previous financial year PPB had registered a loss of Rs.20.7 Crore, this year the company has done “exceptionally well”. MD and CEO of Paytm Payments Bank – Satish Kumar Gupta, said that as of April 2019 the company had more than Rs.500 crore deposits in their savings account.

Source: Business Today

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