Paytm Payments Bank to launch next week, says Paytm Founder

Paytm Founder Vijay Shekhar Sharma has said that the Paytm Payments Bank will become operative from the next week. "I think 2017 will be the year for us to expand into banking. We have to build distribution, reach and customer base," Sharma added. Paytm Payments Bank is 51% owned by Sharma and 49% by Paytm's parent company, One97 Communications.