[ Paytm Payments Bank has released a detailed FAQ on their website in light of the new directive that comes into force on March 15, concerning the acceptance of new deposits. The bank has provided clarity especially on the usage and management of FASTags issued by them, in compliance with the Reserve Bank of India‘s … Read more
[ NEW DELHI: The Enforcement Directorate, which has been investigating Paytm Payments Bank, a branch of One 97 Communications, for potential foreign exchange violations, has yet to find any breaches, according to a Reuters report.While no foreign exchange management act violations have been detected, the probe has uncovered lapses in compliance with know-your-customer (KYC) norms … Read more
[ NEW DELHI: The recent regulatory action taken by the Reserve Bank of India (RBI) against Paytm Payments Bank has highlighted the significance of adhering to laws for other fintech firms and that compliance cannot be “optional”, according to union minister Rajeev Chandrasekhar. In an interview with the news agency, PTI, the minister of state … Read more
[ Paytm share price today: Shares of fintech company One 97 Communications dropped 5% on Thursday, reaching a new all-time low of Rs 325.30 on the Bombay Stock Exchange. This decline comes after officials from the Directorate of Enforcement (ED) questioned Paytm Payments Bank officials regarding alleged violations of the Foreign Exchange Management Act (FEMA) … Read more
[ Paytm, Byju’s crisis: About 13,500 employees from Byju’s and Paytm, two major Indian startups, are seeking new jobs due to increased investor scrutiny and regulatory hurdles.According to an ET report, the staffing firm Xpheno partnered with well-known job boards to reveal that many professionals from Paytm and Byju’s are actively seeking new jobs. Over … Read more
[ MUMBAI: State Bank of India reported a 35% drop in net profit for the quarter ended December 2023 following a one-time exceptional provision of Rs 7,100 crore, comprising Rs 5,700 crore for pensions and the rest for salaries.The country’s largest bank reported a net profit of Rs 9,164 crore for the quarter ended December … Read more
[ NEW DELHI: Paytm Payments Bank has been barred by the Reserve Bank of India (RBI) from accepting deposits/top-ups in any customer account, wallets, and FASTags after February 29, reportedly due to non-compliance of regulations and supervisory concerns.“The Comprehensive System Audit report and subsequent compliance validation report of the external auditors revealed persistent non-compliances and … Read more
