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Paytm Bank to stop working from today
The Morning Standard
|March 15, 2024
Banking unit of the payments company will reduce headcount by about 20% or nearly 550 employees
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PAYTM Payments Bank will cease its operations including accepting deposits and credit transactions, from Friday (March 15) as mandated by the Reserve Bank of India.
As a result, the banking unit of payments firm Paytm, will cut about 20% of staff. Sources confirmed the job cut in the banking unit and this will affect at least 550 employees. As per Tracxn, Paytm Payments Bank had 2,775 employees till last year.
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