Tag: Paytm Payments Bank

Paytm lays off employees as part of restructuring, facilitates outplacement support

June 10, 2024 admin

The logo of the Paytm app. File | Photo Credit: Reuters Fintech firm One97 Communications, owner of the Paytm brand, is laying off an undisclosed number of employees and claimed that it is providing outplacement support for their smooth transition, according to a company statement. Paytm’s sales employee headcount in the March 2024 quarter dropped…

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Paytm Q4 Results Show Loss Widens To Rs 550 Crore After RBI Action Against Paytm Payments Bank

May 22, 2024 admin

Representational Image New Delhi: Digital payments firm Paytm posted a wider loss in the fiscal fourth quarter on Wednesday, hurt by weakness in its payments and financial services business after the central bank shut down its banking unit. The company’s consolidated net loss was at Rs 5.5 billion as it took an impairment of Rs…

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Paytm CEO Vijay Shekhar Sharma

April 23, 2024 admin

Paytm Payments Bank’s parent is One 97 Communications. The board of India’s Paytm Payments Bank is independent and capable of addressing regulatory concerns, the chief executive officer of digital payments firm Paytm, formally known as One97 Communications Ltd, (OCL) said on Monday. “I, personally or anyone from OCL, have no connection with the payments bank,”…

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Paytm Payments Bank MD and CEO Surinder Chawla quits

April 9, 2024 admin

Surinder Chawla. File photo: paytmbank.com Beleaguered Paytm Payments Bank’s managing director and CEO Surinder Chawla has resigned from the company, a regulatory filing said on April 9. Mr. Chawla’s resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI. Also read: The Paytm Payments Bank debacle | Explained “Surinder Chawla, Managing Director…

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Paytm Payments Bank Shuts Down Today. Details Here

March 15, 2024 admin

Paytm app will keep running even after March 15. Paytm, a major player in India’s fintech scene, is facing a setback as its banking arm, Paytm Payments Bank Ltd (PPBL), is stopping key services from today. This comes after the Reserve Bank of India imposed restrictions on the bank, citing serious rule violations. Customers relying on…

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NHAI asks Paytm FASTag users to procure new one from another bank by March 15

March 13, 2024 admin

Paytm FASTag users can continue to use the existing balance to pay tolls beyond the stipulated date. File | Photo Credit: Reuters National Highways Authority of India (NHAI) has advised Paytm FASTag users to obtain a new FASTag from another bank before March 15 to ensure a smooth travel experience and avoid inconvenience at toll plazas,…

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FIU imposes ₹5.49 crore fine on Paytm Payments Bank for PMLA lapses

March 1, 2024 admin

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 has slapped a ₹5.49 crore penalty on Paytm Payments Bank Limited (PPBL) for violations of the Prevention of Money Laundering…

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Finance Ministry’s Financial Intelligence Unit imposes ₹5.49 crore fine on Paytm Payments Bank for PMLA lapses

March 1, 2024 admin

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…

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Why Paytm CEO Vijay Shekhar Sharma Quit Payments Bank Board

February 27, 2024 admin

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…

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Vijay Shekhar Sharma Steps Down From Paytm Payments Bank Board Amid Crisis

February 26, 2024 admin

Vijay Shekhar Sharma stepped down as non-executive chairman Paytm said on Monday that Vijay Shekhar Sharma would step down as non-executive chairman and board member of its payments bank’s unit, as the embattled digital payments company overhauls its board after a central bank clampdown. The action against Paytm Payments Bank followed “serious supervisory concerns”, including…

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