Home Business Paytm Gets 5 Handles To Continue Its UPI Transactions; NPCI Approves Third Party App License According to the NPCI website, One97 Communications, parent company of Paytm, has got five handles in partnership with four banks to continue UPI transactions. Paytm Paytm Payments Bank to stop its operations by March 15, as ordered by … Read more
MUMBAI: The Financial Intelligence Unit-India (FIU-IND) has imposed a penalty of Rs 5.5 crore on Paytm Payments Bank for violation of norms under Prevention of Money Laundering Act (PMLA).A finance ministry statement said on Friday FIU-IND initiated a review of Paytm Payments Bank ‘on receipt of specific information from law enforcement agencies in respect of … Read more
Home Business Paytm Stock: SoftBank Sells 2% Stake; Paytm Shares Down By 4 % It held a 17.5% stake in Paytm in September 2022 later it trimmed its ownership through multiple open market deals. After this sale, the company’s stake in Paytm’s parent One97 Communications went down to 2.83 percent from 5.01 per cent earlier. … Read more
MUMBAI: Paytm Payments Bank’s regulator-mandated virtual exit from the UPI platform may not have as disruptive an impact on the cashless transaction ecosystem as is being currently feared as most users have multiple backend accounts that are out of the scope of the central bank’s curbs. Furthermore, only about a sixth of the 90 million … Read more
NEW DELHI: The worry being stoked that the regulatory action against Paytm Payment Bank will cause major disruption in the market has found few takers. Paytm may be a visible payment tool but RBI’s restrictions on depositing funds in accounts or instruments issued by the payment bank, that kick in from next month, is expected … Read more
New Delhi: Reserve Bank of India (RBI) governor Shaktikanta Das ruled out any immediate review of the curbs on Paytm Payments Bank Ltd (PPBL), stressing that such orders are issued after comprehensive deliberation and assessment. The governor, however, said an FAQ will be issued this week to address concerns of customers and depositors, including FASTag … Read more
NEW DELHI: The Reserve Bank of India (RBI) on Monday ruled out a review of its decision to impose severe restrictions on the business of Paytm Payments Bank and said it will issue detailed FAQs this week as part of its attempt to ensure hassle-free experience to customers.“We take all decisions after a lot of … Read more
NEW DELHI: Reserve Bank of India, which has barred Paytm Payments Bank from accepting any fresh deposits starting next month, held discussions with the entity’s brass at multiple levels, including the board, before taking the extreme measure.Sometime in Nov-Dec 2021, a top RBI official addressed the bank’s board of directors and asked them to ensure … Read more
MUMBAI: A group of startup founders have written to RBI governor Shaktikanta Das and FM Nirmala Sitharaman asking the regulator to “reconsider” its decision to impose severe restrictions on Paytm Payments Bank’s operations.It is rare for companies and its founders to seek such kind of a review by a financial regulator, especially RBI. A letter … Read more
Home Business RBI Stops Paytm Payments Bank from Accepting Deposits After This Date The Reserve Bank’s action against Paytm Payments Bank Ltd (PPBL) follows a comprehensive system audit report and subsequent compliance validation report of the external auditors. Massive Layoff: Paytm Sacked Over 1,000 Employees In Cost-Cutting Measures New Delhi: The RBI on Wednesday barred … Read more