Aim to launch payment bank early next year: Paytm

Mobile payments company Paytm, which is one of the payment bank licensees, says the ground work on building a team is progressing well and it is aiming to launch the bank early next year.

In an exclusive conversation with CNBC-TV18's Archana Shukla, Paytm founder Vijay Shekhar Sharma says although they were not ready for a launch earlier, the team is up and running now.

Excerpts from the interview:

The timeline is 18 months actually and I think we should be able to do it much earlier. As we speak, we have brought lot of teammates, lot of advisors  and we are on a mission to launch it ASAP .

We have built a business were the organization already has 3000 - 4000 people, so we are moving certain number of those people into the new role and we have been able to give many job offers inside a short span of time. I'll be candid that we were not sort of pre-ready with the plan that we would have got the bank license opportunity and now that we have got it we are leaving any stone unturned to turn it around very fast.