[ 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
[ MUMBAI: One97 Communications is likely to partner SBI, HDFC Bank, Axis Bank and Yes Bank to settle UPI transactions once it gets the third-party app provider licence.Banking sources said that the switchover will be smooth and phased, as the @paytm handle will be retained. However, instead of pointing to PPBL, these handles will point … Read more
[ NEW DELHI: The National Payments Corp of India (NPCI) is expected to grant a third-party application provider (TPAP) license to Paytm, officially recognized as One 97 Communications, by March 15, Reuters reported, quoting three sources on Tuesday.Impact on customers and compliance issuesThis license will enable users to continue utilizing the Paytm app for transactions … Read more
[ NEW DELHI: One97 Communications shares, which operates under brand Paytm, were off a steady start on Friday morning. Paytm share advances 16.65 or 4.13% from its previous close of 403.30 to 419.95.Paytm and its payments bank unit have recently decided to terminate certain inter-company agreements as part of their efforts to reduce dependencies, according … Read more
[ MUMBAI: SoftBank has cut another 2.1% stake in Paytm, reducing its shareholding in the fintech firm to 2.8%, the company said in a recent stock exchange filing. The Japanese investment behemoth which bets heavily on tech firms had invested over $1 billion into Paytm and held about 18% stake in the Noida-based company at … Read more
[ New Delhi: Vijay Shekhar Sharma has stepped down as part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL), and the board of the bank has been reconstituted. The Reserve Bank has barred the PPBL from accepting deposits and credits from any customer post-March 15 for persistent non-compliances and continued material supervisory concerns in the … Read more
[ NEW DELHI: Paytm founder Vijay Shekhar Sharma has resigned as the non-executive chairman and board member of Paytm Payments Bank Ltd (PPBL), the company said on Monday, as it faces regulatory hurdles from the Reserve Bank of India (RBI).Sharma’s decision comes after the RBI asked PPBL to stop further deposits, credit transactions, or top-ups … Read more
[ NEW DELHI: Shares of One97 Communications, the owner of Paytm, hit upper circuit on Monday as they surged by 5% in morning trade. The stock rose to Rs 358.55 and Rs 358.35 apiece on the BSE and NSE, respectively.Paytm’s recent deal with Axis bank for merchant payment settlements and RBI’s extension of deadline to … Read more
[ MUMBAI: As Paytm battles a regulatory crisis, its fintech peers are attempting to capitalise on the opportunity and gain market share. While bigger players like PhonePe certainly have the advantage of deeper pockets, wider reach and resources, other firms like BharatPe and MobiKwik also seem to be benefitting. Industry sources said that BharatPe has … Read more
[ MUMBAI: RBI‘s FAQ on what next for Paytm customers makes it clear that while most of Paytm Payments Bank functions will be halted, the digital infrastructure that the company has built for UPI payments will continue – both for customers and shopkeepers who do not have accounts in PPBL.What happens after RBI’s extended deadline … Read more
