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Paytm launches niche payments bank offering 4% interest, to open 31 branches initially
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Paytm launches niche payments bank offering 4% interest, to open 31 branches initially

As many as 11 companies including Reliance Industries and India's top three telecom operators were in 2015 permitted by the Reserve Bank of India (RBI) to set up payments banks which can take deposits and remittances but cannot lend.