IAMAI has appointed Paytm founder Vijay Shekhar Sharma as the Chairman of its newly formed payments banks group.
IAMAI or Internet and Mobile Association of India is an association of global companies like Google, Facebook and LinkedIn as members; the gamut also include primary licensees of payment banks as their members.
Alongwith Sharma, Suresh Sethi – Business head of Vodafone India has been appointed as the Vice Chairman of the group.
“Payments Banks is an innovative model of bringing un-banked population into the formal banking fold. Paytm along with other license holders, would make financial services accessible for every Indian through this innovative route,” Sharma was quoted by The Economic Times as saying.
“The other four primary licensees have in principal agreed to join when they are in operation,” President, IAMAI, Dr. Subho Ray was quoted by The Economic Times as saying.