Paytm Payments Bank becomes most preferred UPI beneficiary bank in India – World Affairs SRS

Paytm Payments Bank becomes most preferred UPI beneficiary bank in India

– World Affairs SRS

Paytm Payments Bank Limited (PPBL) became the largest and fastest growing UPI Beneficiary Banks in India. It has become the first beneficiary bank in the country to achieve this landmark 926 Million UPI Transactions in a single month. The beneficiary bank is the account holder’s bank who is receiving the money. Paytm Payments Bank has rapidly gained traction as a remittance bank for UPI payments.

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Whereas State Bank Of India (SBI) being at the top of the charts biggest sender In December 2021, as per the data released by the National Payments Corporation of India (NPCI). State Bank of India followed PPBL as the second largest beneficiary with 664.89 million transactions.

Important facts for all competitive exams:

  • Chairman of Paytm Payments Bank Limited: Vijay Shekhar Sharma;
  • MD & CEO of Paytm Payments Bank Limited: Satish Kumar Gupta;
  • Paytm Payments Bank Limited Headquarters: Noida, Uttar Pradesh.

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