Paytm: RBI move against Paytm likely to disrupt retail payments; rivals spring into action
The Reserve Bank of India’s action on Wednesday to terminate the nodal accounts of One 97 Communications Ltd and Paytm Payments Services Ltd could have far reaching implications on India's digital payments ecosystem, multiple industry executives said.Nodal accounts are special internal accounts that intermediaries are mandated to maintain by the RBI and act as vaults, where customer payments are collected before they are transferred to the merchants.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…