Dominant Indian mobile wallet provider Paytm is to open its own Payments Bank on 23 March, joining telco Bharti Airtel as one of the first non-banks to take advantage of their Government's relaxing of restrictions on bank licensing in an effort to boost financial exclusion, reports Finextra. The new players are able to take deposits of up to Rs 100,000 (approx A$500), issue debit and ATM cards, and facilitate online transactions - but are not allowed to lend money. The new Paytm bank has set itself a target of opening 200 million current and savings accounts over the next 12 months, rising to half a billion by 2020.