Paytm Payments Limited has invested 100 crore ( $ 100 m ) of fresh capital . Founder and CEO of the Paytm Vijay Shekhar Sharma invested $ 16.5 m while One97 India and One97 India communications , while others injected the funds . Paytm 's bank will begin operations this month from Uttar Pradesh . Paytm , which launched in 2015 , has seen a 700 % increase in traffic on its platform since demonetisation in India in November .
Paytm Payments Bank has received 128 crore ($19m) of fresh capital. Founder and CEO of parent Paytm Vijay Shekhar Sharma invested $16.5m while One97 Communications and One97 India communications, while Paytm injected the rest. Paytm's bank will begin operations this month from Uttar Pradesh. Paytm, which launched in 2015, has seen a 700% increase in traffic on its platform since demonetisation in India in November.