Covid-19: Paytm Payments Bank crosses Rs 1,000 crore in savings deposits

PPBL has been witnessing an accelerated rise in the deposits, as more people are embracing digital banking during Covid-19.

Paytm Payments Bank Ltd (PPBL) said it has crossed Rs 1,000 crore in deposits through over 57 million savings account holders. PPBL has been witnessing an accelerated rise in the deposits, as more people are embracing digital banking during the COVID-19 pandemic.

The bank has now implemented the option to avail benefits of Direct Benefit Transfers (DBT), which is a scheme by Government of India to transfer the subsidies of various social welfare schemes like LPG gas subsidy, MNREGA payments, Old Age Pension, Scholarships directly into the beneficiary’s bank account.  Customers will be able to receive the benefits of over 400