India: Paytm's Vijay Shekhar Sharma may sell 1% in One97 Comm to fund payments bank ops

Visual from Paytm website

One97 Communications Ltd founder Vijay Shekhar Sharma who runs digital wallet firm Paytmis looking to raise funds to start his payment bank operations, according to an Economic Times article. The funding is expected to close in next couple of months.

Sharma recently got payment bank licence in August from Reserve Bank of India along with other 10 applicants like Airtel M Commerce Services, Reliance Industries, Vodafone m-pesa, Tech Mahindra etc.

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