Paytm Payments Bank has received 111 crore ( $19m ) of fresh capital. Founder and CEO of parent Sharma invested $16.5 m while One97 Communications and One97 India communications, while Uttar Pradesh injected the rest. Paytm 's bank will begin operations this month from Uttar Pradesh . The Chinese internet behemoth is an existing shareholder in One97, and also holds around 40% stake in the recently separated Paytm's online marketplace business, as reported by TOI in its February 3 edition. Paytm , which launched in 2015 , has seen a 700% increase in traffic on its platform since demonetisation in Paytm in this month .
Paytm Payments Bank has received 111 crore ( $19m ) of fresh capital. Founder and CEO of parent Sharma invested $16.5 m while One97 Communications and One97 India communications, while Uttar Pradesh 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 Paytm in this month .