Paytm Payments Bank released its 2nd branch on Wednesday, nearly two years after putting in its first department in May 2017. With over four.4 crore savings account and Rs 2,000 crore in overall consumer deposits, the organization claims to be having 35-forty percent of the market proportion within the bills bank area. In an interplay with Moneycontrol, Satish Kumar Gupta, a chief executive officer talks about the imaginative and prescient of the bills bank and the business enterprise’s latest troubles with the Reserve Bank of India.
Q. How many savings account are you focused on through March 2020?
Satish Gupta: We have a target of taking this 4.Four crore to ten crores by way of March 2020. We also have 26 crore pockets clients. That may also visit somewhere around forty crores.

Q. Out of 4.4 crores saving money owed, how many are 0 stability debts?
Satish Gupta: There can be an awesome range of them but it doesn’t simply suggest that they’re the 0 stability money owed. They related to the money and used the money. So most of that money owed is like that. So we cannot call them truly zero balance accounts. There are a good wide variety of transactions going on on those accounts despite the fact that stability may not be lots. We trust greater in transactions than instability length.
Q. What brought about the delay inside the release of the second one department? The first one turned into released in May 2017.
Satish Gupta: We agree with the principle of doing it yourself. Our customers can download the app and allow themselves to do a KYC at a close-by area and they are right to head. So this is a branch that we have opened after a number of thinking is to simply get an experience. We accept as true within digitization and the branches come with a variety of fee. It is an enjoy we’re seeking to get with this department on whether or not we need different branches or now not. We will determine that when we see the overall performance of this and the need of the people.
Q. So how many extra branches will up set up through March 2020?
Satish Gupta: May now not be much.
Q. What is your imaginative and prescient with Paytm Payments Bank?
Satish Gupta: So the emblem is already properly received via human beings and the plan is to convey half a thousand million Indians to the mainstream financial system. Bringing half of one billion does no longer suggest that we can open their debts. It means that we will allow them to do monetary transactions. We will permit them to do cashless transactions. We will allow them to develop the economy when the financial system goes cashless, the economy grows due to the fact each transaction has a trail.
Q. Paytm Payments Bank had some problems final year while RBI barred you from onboarding new clients. What changed into the whole difficulty? How did it affect the business enterprise?
Satish Gupta: Maybe the ones had been the primitive days while we got opened in 2017 and RBI determined that in all likelihood there had been a few violations. Certainly at the end of it when we defined to the RBI, they allowed us to begin operations. And in contrast to other bills bank, our submission was ordinary via the RBI and there has been no high-quality positioned upon Paytm Payments Bank for violations not like others. All other (payments financial institution) wherein there had been violations and restrictions, they were lifted after the inquiry and best turned into put on to them. But for us, they customary our submission, they allowed us the operations however there was no best.
Q. Is KYC returned in full swing now?
Satish Gupta: No it became not in full swing, however now it is going to be because in the interim the RBI judgment on the Aadhaar came, by using the distinctive feature of which we couldn’t do the eKYC of the clients and the speed went down. But now we’re selecting up. Now, eKYC is authorized by the authorities of India through an ordinance. They have enabled it handiest in March. Now we’re ramping up the numbers.
Q. We had been told that Paytm Payments Bank turned into alleged to open profits bills as properly. Even the salaries of its very own employees have been to be distributed via these debts.
Satish Gupta: That has already begun. Paytm Payments Bank has 1,300 enroll employees, all of them get their salaries in their money owed. We have begun starting the profits bills as properly. We have already opened 30,000 income accounts. There is a superb increase anticipated there currently. I may not be understanding the exact numbers immediately but (we would have tied up with) over 100 (corporates). We goal to have more than one million accounts by way of March 2020.
Q. We get to research that RBI becomes not glad about the close connection Paytm Payments Bank had with One ninety-seven Communications. Over the last few months what measures were taken to preserve these two groups at arm’s duration?
Satish Gupta: That became the issue highlighted by the Reserve Bank of India. We have taken several steps. First and major, we’ve got moved into an unbiased constructing in which all the workforce sits. All capabilities of the financial institution are accomplished through the financial institution’s people. There is no get right of entry to that One97 Communications has to any of the bank’s records. The financial institution is working independently through the wise board which we’ve. There is an entire arm’s duration that has been created.