Paytm Payments Bank records Rs 30.7 crore loss in August 2016 – March ’17

Agencies

October 4, 2017

New Delhi, Oct 4: Paytm Payments Bank recorded a loss of Rs 30.7 crore between August 2016 and March 31, 2017, according to the documents it submitted to the corporate affairs ministry, reported news agency on Wednesday. The company, which formally began operations in May this year, was one of the 11 that were granted in-principle approval by the Reserve Bank of India (RBI) to set up limited banking operations — accepting deposits from individuals and small business of Rs 1 lakh per account. The bank’s first branch was opened in Noida, Uttar Pradesh.

Paytm Payments Bank logged Rs 2.47 crore as revenue during the same period, its records showed. The company, the market leader in the segment, has at least 250 million electronic payments wallets.

Paytm founder Vijay Shekhar Sharma maintains 51 per cent share in the banking company, while the rest is held by One97 Communications, which is funded by Chinese e-commerce company Alibaba — Alibaba does not have a direct shareholding in the payments bank.

At the time of opening, Paytm had said it “is in the process of expanding footprints in near future, which will be spread across metro, urban, semi-urban and rural areas. Bank has proposed to set up 31 branches, 33 controlling offices and 3,000 access points by March 31, 2018,” reported. The company did not comment on its losses.

RBI recently began allowing payment banks to operate in the country with the objective of deepening financial inclusion. Shekhar, on receiving approval for Paytm Payments Bank, had said the aim of the project is to build a new business model in banking industry, focused on taking financial services to millions of unserved or underserved Indians. Airtel and Aditya Birla Idea Payments Bank are among the companies which offer similar services.

Last month, Paytm Payments Bank said it was looking to partner full-service banks to offer more services. “Anything which we cannot offer, we will be partnering with the banks. Whether it’s going to be a loan, or a credit card, or a term deposit, and other services,” said Renu Satti, CEO of Paytm Payments Bank, was quoted as saying by news agency.

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Promising life cut short: Mangaluru college student killed in Padubidri road accident

News Network

November 30,2025

Mangaluru, Nov 30: A 22-year-old college student succumbed to her injuries at a private hospital in Mangaluru today, days after she was hit by a goods tempo while crossing a road in Padubidri.

The deceased has been identified as Preksha, a resident of Nadsalu Billitota in Padubidri. The fatal incident occurred as Preksha, who was returning home after completing her examination, attempted to cross the service road towards Mangaluru. She was struck by a goods tempo approaching from the Udupi side, causing her to fall and sustain a severe head injury.

Prompt action from local residents ensured she received immediate first aid before being rushed to a hospital in Mangaluru for specialised treatment. Despite medical efforts, she passed away while undergoing care.

Preksha was a student at Karavali College, Vamanjoor on the outskirts of Mangaluru city. The tragedy is compounded by the fact that she belonged to a financially vulnerable family, having previously lost her father. She is survived by her mother and brother.

A case related to the accident has been registered at the Padubidri police station, and an investigation is underway to determine the exact circumstances that led to the collision. The incident highlights the growing concerns over road safety, particularly on busy service roads, and serves as a tragic reminder of the human cost of traffic accidents.

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