Paytm Payments Bank Ltd on Friday announced the launch of ‘Cash at Home’ facility for senior and differently-abled citizens. This initiative will be exclusively run in the Delhi NCR region and is specifically aimed to protect senior and differently-abled citizens from coronavirus.
The newly launched service will enable them to raise cash withdrawal requests on their Paytm Payments Bank app and the requested amount will be delivered at their doorsteps within 48 hours.
The minimum money that can be withdraw is Rs 1,000 and the maximum limit is Rs 5,000, according to a statement issued by the company.
Commenting on the latest initiative, Satish Kumar Gupta, CEO & Managing Director, Paytm Bank said, “We have continued with our efforts to expand the digital banking network in the country and benefit millions of our customers with innovative features & unmatched service. Our latest ‘Cash at Home’ facility will be of immense help to those people who cannot visit an ATM or bank branch due to age, health, or any other issues.”
Paytm Payments Bank claims to be India’s only profitable bank and recently announced to have recorded Rs 1,000 crore in deposits with 57 million saving account holders. This company labeled this as a major milestone in its brief history.
This surge has come at a time when India’s financial sector is facing massive liquidity crunch due to COVID-19 lockdown.
Paytm Payments Bank competes with well-funded players like Airtel Payments Bank, Fino Payments Bank and Jio Payments Bank.