Indian mobile commerce platform Paytm is planning to recruit about 3,000 employees for its payment bank operations by June 2016.
The Alibaba-backed company was among one of the firms to receive in principle nod from the Reserve bank of India (RBI) in August to run payment bank.
The bank would need a significant number of employees for field job, with plans on to hire additional employees from third-party agencies. Bulk of the employees will be hired for technology roles and requirements.
Paytm vice-president Amit Sinha said: "Hiring for Paytm’s Payment Bank is a key focus area. We have planned to get on board about 3,000 people from banking and non-banking backgrounds like FMCG, telecom, consulting, etc. We will draw on the expertise of a wide cross-section of sectors."
Serving both individuals as well as small businesses, payment banks will accept demand deposits, remittance services, internet banking and other specified services, as well as will also be allowed to issue ATM/ debit cards and other prepaid payment instruments.
However, these banks will not be able to issue credit cards, and will be barred from conducting lending services. Non resident Indians will not be eligible to open accounts.