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Mumbai, Maharashtra, March 2018

The Paytm wallet user wanted to complete his Know Your Customer (KYC). So he found a small-time telecom retail store with a biometric machine in Tardeo, south Mumbai, to get it done. At the store, the person at the desk began the KYC process. Ticking off one item after another on the KYC form that popped up on the phone. “I asked him, what are you marking off? Show me,” says the Paytm wallet user. “So, with the other consents, there was one for Paytm Payments Bank.