Paytm Payments Bank becomes a success story in banking business model, turns profitable for the second consecutive year -:- www.deekpay.com

We are pleased to inform you that Paytm Payments Bank has increased its net profit to Rs. 298 million in FY 2020, a significant increase from Rs. 192 million in FY 2019. This achievement is largely attributed to our increased customer base in small towns and cities, driving financial inclusion in the country. Our annual revenue also rose significantly during the financial year, crossing the Rs. 2,100 crore mark. We continue to lead digital banking in the country and have facilitated over 48.5 billion transactions totalling Rs. 4.6 trillion. Domestic transfers amounted to about Rs. 290 billion, a significant growth over the previous year. The growth in the current account (CASA) base to over 58 million helped us double the deposits in our savings accounts to over Rs. 1 billion.

We would also like to take this opportunity to announce the upcoming launch of our highly anticipated chequebook service for our account holders. You can now order your chequebook through the app. You will need to upload your signature and necessary supporting documents in the "Cheque Book" section, select the version of your cheque book (10 or 25) and submit your request after payment. Once submitted, the chequebook will be delivered to your KYC registered address within 7-10 business days. You will also be able to track the status of issued cheques on the app.