This Diwali doesn’t seem to be a big one for the mobile wallet company- Paytm. A target that it had set for itself is likely to get missed. The App company had its payments bank to be commercially launched but is still awaiting the final clearance from the Reserve Bank of India (RBI).
“We’re awaiting the final application approval from RBI. We have everything ready. As soon as the approval comes, we will do a ‘beta’ launch of the bank, which is within the company. By the end of the year, we will have a commercial launch of the payments bank,” Vijay Shekhar Sharma, founder and chief executive officer of Paytm.
This would be the fourth deadline shift for the Mobile wallet app company as it has shifted the deadline for the launch of bank three times since April.
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