Paytm to unveil leadership for its proposed payments bank in March


MUMBAI: Paytm, the ecommerce and digital wallet company, will reveal leadership for its upcoming payment bank next month, its founder said.

“March first week we will announce our leadership team. We have people from Citibank and Barclays joining us. The launch is not happening before June,” Vijay Shekhar Sharma said at the venue of the Nasscom India Leadership Forum here on Friday. The launch is on track as Paytm has time until March 2017, he added.

ET had reported earlier this week that Paytm has shortlisted a candidate to lead its payment bank and is bringing on board new hires as it strengthens the senior management team for the new business, which has a starting budget of .`400 crore.

Sharma told reporters here that Paytm would launch the first payment bank in Meerut.

“It will bring financial freedom, which has just not been there in the country. So we have a plan to bring financial freedom in the country and we want to start it from a place where India’s freedom struggle started,” he said.

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