Likely buyers eye fresh KYC of Paytm merchants

Bankers are wary of fraudulent merchants getting access to their systems during the transfer, bankers told ET. While fresh KYC is a standard procedure, in the situation that Paytm bank will have to transfer everything by February 29, additional KYC formalities could end up taking more time. Banks eyeing Paytm’s business include HDFC Bank, Axis Bank and Yes Bank.
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