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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…
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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…
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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…