Stay Connected. Stay Informed.
Image used for representative purpose only | Photo Credit: Reuters The National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars, according to the company. Also Read:Paytm Payments Bank meltdown, its meaning | Explained The move is expected to…
The Financial Intelligence Unit-India has slapped a ₹5.49 crore penalty on Paytm Payments Bank Limited (PPBL) for violations of the Prevention of Money Laundering Act (PMLA). | Photo Credit: GIRI KVS The Financial Intelligence Unit-India under the Union Finance Ministry has slapped a ₹5.49 crore penalty on Paytm Payments Bank Limited (PPBL) for violations of…
Mr Sharma owns a 51 per cent stake in Paytm Payments Bank. New Delhi: Paytm CEO Vijay Shekhar Sharma on Monday resigned as non-executive chairman and board member of Paytm Payments Bank, amid ongoing regulatory challenges faced by the digital payments giant. The decision follows a series of measures imposed by the Reserve Bank of…
Read More “Why Paytm CEO Vijay Shekhar Sharma Quit Payments Bank Board” »
Union Finance Minister Nirmala Sitharaman during an interaction with Start-Up and Fintech Entities, in New Delhi, on February 26, 2024. | Photo Credit: PTI Finance Minister Nirmala Sitharaman nudged India’s financial sector regulators to hold monthly meetings with fintechs to address their concerns and mooted a day-long workshop with law enforcement agencies for such firms…
A file photo of M. Damodaran, former Chairman, Securities and Exchange Board of India (SEBI). | Photo Credit: SOMASHEKARA GRN An advisory committee, set up by Paytm owner One97 Communications after the Reserve Bank of India’s action on its payments bank business, is at a stage of engagement with the company on matters related to the…
Read More “Paytm advisory panel discussing terms of reference with company: M. Damodaran” »
According to sources, as there is no PMLA scheduled offences involved in the case of PPBL, money laundering investigation cannot be done. File. | Photo Credit: Reuters The Enforcement Directorate (ED) has not found any violation under the Foreign Exchange Management Act (FEMA) during the inquiry of Paytm Payments Bank Limited (PPBL) transactions. The Reserve…
Read More “ED finds no FEMA violation in Paytm Payments Bank case” »
A worker adjusts a hoarding of Paytm, a digital payments firm, in Ahmedabad, India. | Photo Credit: AMIT DAVE Amid reports that the Enforcement Directorate (ED) had on Wednesday filed cases against Paytm for alleged FEMA violations, One 97 Communications Ltd., the parent company of Paytm, neither confirmed nor denied the reports and told stock…
Read More “Been receiving notices from ED and other agencies, says Paytm parent” »
Paytm. File. | Photo Credit: REUTERS Shares of Indian digital payments firm Paytm slumped 10% to a near record low on Monday, extending a rout from last week triggered by a regulatory crackdown on its banking unit. Paytm has lost about $2.5 billion or about 43% of its market value since the Reserve Bank of…
Read More “Paytm nears record low, market value down about $2.5 billion since RBI crackdown” »
Son of a schoolteacher from Aligarh district in Uttar Pradesh, Vijay Shekhar Sharma was enamoured by Jack Ma-run Alibaba’s focus on smartphones rather than desktop computers, when he built a digital payments company that would let Indians pay for vegetables, pay utility bills or buy cinema tickets using their mobile phones. Mr. Sharma, the poster…
Read More “Paytm Payments Bank meltdown, its meaning | Explained” »
Paytm app is seen on a smartphone in this illustration image. File | Photo Credit: Reuters Traders’ body CAIT on February 4 issued a cautionary advisory to traders to switch from Paytm to other payment options for business-related transactions following RBI curbs on Paytm wallet and bank operations. “The Reserve Bank of India has imposed…