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India's Paytm said to seek license to offer money market fund
Paytm says the average transaction value has increased by 200% and the number of mobile app downloads by 300%. The company is now officially called Paytm Payments Bank Ltd., and is allowed to take deposits and pay interest but not lend money. The country's leading money market funds are currently run by state-owned and private banks including the State Bank of India and ICICI Bank.
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