Paytm subsidiary inks pact with Startup Bihar to offer banking solutions

One97 Communications, which owns the Paytm brand, on Friday announced that its wholly-owned subsidiary Paytm Payment Services Limited (PPSL) has signed a pact with Startup Bihar to promote the state's startup ecosystem.

Under the memorandum of understanding (MoU), PPSL will help startups grow their businesses with the Paytm Startup Toolkit, which offers solutions in payments.

Paytm Startup Toolkit will aid, simplify, and accelerate business ventures of youth in their early stages of growth, One97 Communications Limited said in a release.

Additionally, the Paytm Incubation Centre will empower early-stage startups in their journey. It will help young entrepreneurs gain new user acquisitions, access funds, and access more facilities.

Startup Bihar is the state government's ambitious initiative to promote startups. Since its inception in 2016, it has fostered a startup and innovation ecosystem in Bihar on a large scale.

The Bihar Startup Policy 2022 is aimed at making the ecosystem more inclusive, holistic, and beneficial for all stakeholders. The Department of Industries is the nodal department for the startup ecosystem in the state.