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In India, a new banking system to reach masses

Payments banks can accept deposits and offer services like ATMs, debit cards and online banking

Paytm has the largest mobile wallet in the country and its 200 million active users are potential customers for its new bank.

Uttar Pradesh

AT A furniture store outside India's capital, a salesman scans the manager's ID and takes her fingerprint on a biometric device attached to his cellphone.

Within minutes, Meenakshi Sharma becomes eligible for an account with Paytm, joining the hundreds of thousands...

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