Paytm, an India-based mobile payments provider, plans to launch banking operations within the next couple of months, according to a report from Bloomberg.

The company, which is involved in a lawsuit with PayPal over copyright issues, said it wants to sign up approximately 200 million consumers for the service within the first year.

"We are adequately capitalized as of now and the focus is on executing our plans," Paytm CFO Madhur Deora told Bloomberg in an interview earlier this month.