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Paytm Wants To Convert Its Payments Bank Into A Small Finance Bank
India’s payments banks have had a torrid time thus far — after the RBI had given in-principle approval to 11 entities to set up payments banks, 3 had dropped out even before beginning operations. Aditya Birla’s payments bank shut down 17 months after being founded, and Airtel Payments Bank, Fino Payments Bank, and Paytm Payments Bank have been pulled up by the RBI for irregularities in running their operations. And of the remaining payments banks,...