Indian electronic payment Paytm bank has seen a turnover of Rs 2 crore, while its losses stood at Rs 30 crore for the period between August-end 2016 to March 2017 as per its financial documents.
Paytm’s Net Worth
Paytm banks net worth was Rs 187 crore for the above said period. Between August 22, 2016, and March 31, 2017, the Payment Bank saw an income of Rs 2.4 crore, while its expenditure was more than Rs 33 crore. The authorized capital of the bank till the date of filing was Rs 400 crore.
Pumping of Rs 60 Crore into Paytm Payment Bank
A month ago, ET revealed that Paytm author Vijay Sharma and parent Jay Shekhar Sharma and parent organization One97 Communications had directed in Rs 60 crore more into Paytm Payments Bank. Sharma and One97 had before put about Rs 220 crore in the Payments bank, with Sharma owning a larger part stake in the bank.
Paytm Payments Bank was launched in May. The company had said that it will expand to 31 branches and 3,000 customer service points in the first year.