UBS Group AG (SWX:UBSG) is in talks to invest $400 million in Paytm Payments Bank Limited, the most valuable Indian startup, in a bet on the surging digital payments market in the world’s second-most populous country, people with knowledge of the matter said. A fund run by UBS’s asset management arm is in discussions to buy a stake in Paytm alongside some of the Swiss bank’s clients, according to the people, who asked not to be identified because the information is private. UBS is negotiating the purchase of Paytm stock from a group of the Indian fintech company’s employees, the people said. UBS aims to finalize an agreement as soon as this month, though talks could still be delayed or fall apart, according to one of the people. Paytm isn’t raising any new capital as part of the deal, the people said. Representatives for UBS and Paytm declined to comment.