PayTM, Delhi NCR based largest mobile commerce player enabled IMPS transfer service. With this PayTM users can transfer money from PayTM mobile wallet to any of the bank account in India. PayTM also announced plans to open about 50,000 retail outlets where over 25 million Paytm users will be able to load cash in their mobile wallets.
With the new ruling from Reserve Bank of India (RBI) that restriction is withdrawn. The new directive from the RBI is allowing the children above ten years to open account in different national and private sector banks across the country. The process of operating of the Bank account is conducted independently without indulgence of their parent.