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A set of newly identified banks will need to back the Paytm app. The Reserve Bank of India said on Friday it has asked the National Payments Corporation of India to examine a request from Paytm, formally known as One 97 Communications, to become a third party application provider (TPAP). If approved, this would allow…
Read More “RBI’s Measure Over Paytm Request “For Continued UPI Operation”” »
The Reserve Bank of India is looking at ways to ensure Paytm customers can make seamless digital payments using the app after March 15, 2024. File | Photo Credit: Reuters The Reserve Bank of India (RBI) said the National Payments Corporation of India (NPCI) has been asked to examine the possibility of it becoming a third-party…
Read More “Reserve Bank asks NPCI to help continue operations of Paytm app” »
The Paytm scrip has rebounded since Friday and gained more than 21% from Thursday’s closing level of ₹325 | Photo Credit: Reuters Shares of One97 Communications which owns Paytm brand hit the upper circuit for the fourth consecutive session on February 21. The stock of the fintech major climbed 5% each to ₹395.25 and ₹395.05…
Read More “At ₹395, Paytm shares hit upper circuit for fourth straight session” »
File. | Photo Credit: Reuters Shares of Paytm’s parent firm One97 Communications rallied 5% and touched upper circuit for the third straight session on February 20. According to reports, the Directorate of Enforcement (ED), which has been probing One97 Communications’ arm Paytm Payments Bank Ltd (PPBL), has not found any breaches of the foreign exchange…
Read More “At ₹376, Paytm shares hit upper circuit for third straight session” »
Paytm said its associate Paytm Payments Bank Limited does not undertake outward foreign remittances. | Photo Credit: Reuters “The Enforcement Directorate (ED) has questioned senior Paytm executives and taken submission of documents from them following the recent Reserve Bank of India (RBI) action of barring Paytm Payments Bank Limited from accepting deposits or top-ups in…
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” »
Image for representation. | Photo Credit: The Hindu Digital payments through the popular UPI platform were impacted on Tuesday evening because of some banks’ systems facing a glitch, the National Payments Corporation of India said. “Regret inconvenience on UPI connectivity as few of the banks are having some internal technical issues,” the NPCI said on…
Read More “UPI payments hit due to glitch in some banks’ systems” »
The interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration. File | Photo Credit: Reuters India’s financial crime-fighting agency is investigating if platforms run by One 97 Communications, also known as Paytm, were involved in violations of foreign exchange rules, two senior Government sources said. The sources…
Read More “ED probing Paytm and bank unit over currency transactions: sources” »
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” »
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…
