The Internet and Mobile Association of India (IAMAI) has appointed Paytm founder Vijay Shekhar Sharma as the chairman of its newly formed payments banks group. Suresh Sethi, business head of Vodafone India, has been appointed as vice-president. IAMAI’s payments banks group currently comprises six of the 11 companies that were awarded payments bank licences in 2015 by the Reserve Bank of India. Meanwhile, four other licence holders have given in-principle approval to join the group when their payments banks become operational.
