paytm bank

The central bank's regulatory action against Paytm Payments Bank on January 31 impacted One 97 Communication-run Paytm’s UPI payments business in February which registered a 7.6% fall in transactions over the previous month.According to data shared by National Payments Corporation of India (NPCI), Paytm reported around 1.3 billion transactions on UPI, a 7.6% drop from 1.4 billion in January. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For…

Paytm and its associate entity Paytm Payments Bank Ltd (PPBL) have ‘mutually agreed’ to discontinue various inter-company agreements to reduce dependencies, the embattled fintech said on Friday.Further, shareholders of PPBL have agreed to simplify the shareholders agreement (SHA) to support the company’s governance independent of its shareholders, One 97 Communications Ltd (OCL), which runs Paytm, informed stock exchanges.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology…

Founders of publicly listed startups have seen their fortunes fluctuating over the past 12-14 months, in tandem with the stock market performances of their companies. Details on this and more in today’s ETtech Morning Dispatch.Also in the letter:■ Spiritual boost to online gaming■ WhatsApp Biz feels no Google threat■ Byju’s defence in NCLTFounders’ fortunes swing with stock prices in past 12-14 months The fortunes of startup founders have mirrored the ups and downs of the stock market performances of their firms in…

Happy Monday! Uber Technologies will be laser-focussed on its mobility business in India and consolidate its market share, CEO Dara Khosrowshahi told ET in an exclusive interview. More on this in today’s ETtech Morning Dispatch.Also in the letter:■ Explained: The boardroom battle at Byju’s■ Accenture’s revenue bet on GenAI■ India’s first text-to-image generator Exclusive | While Ola taps new roads, our focus still ride-hailing: Uber CEO Dara KhosrowshahiIn an exclusive interview with ET, during a four-day trip to India,…

One 97 Communications, which runs Paytm, has shifted its nodal accounts or escrow accounts to private-sector lender Axis Bank, the company said in a filing to the BSE.This will ensure that merchants who accept digital payments through Paytm will be able to continue doing so. The Reserve Bank of India had asked Paytm to close all its nodal accounts with Paytm Payments Bank latest by February 29.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional…

Crisis-hit Paytm Payments Bank (PPBL) has seen at least two independent directors resigning from its board, even as it battles to assuage concerns of consumers, merchants and other stakeholders about the continuity of its operations after February 29. Shinjini Kumar, a former Bank of America and PricewaterhouseCoopers (PwC) executive, resigned from the payments bank’s board in December, sources aware of the matter said. While her resignation was accepted and a replacement was being finalised, she is said to have attended…

Hi, this is Pratik Bhakta in Bengaluru. The stringent action by the Reserve Bank of India (RBI) against Paytm Payments Bank could have a positive fallout. It can actually push One 97 Communications, which runs Paytm, to focus on what it does best — build distribution.It can also focus on technology and product development like it did with Soundbox — a desi way of reducing fraud and confirming merchant payments.With Paytm Payments Bank staring at an uncertain future, it all comes down to the Paytm app for founder Vijay…

NCP MP Supriya Sule on Friday alleged that apps like Google Pay and PhonePe are "two ticking time bombs" and sought to know what steps the government is taking to check money laundering. Participating in a discussion on 'The White Paper on Indian economy' in Lok Sabha, Sule said whatever happened in Paytm Payments Bank Ltd (PPBL) is "very alarming" and is almost like money laundering. The Reserve Bank of India (RBI) last month directed PPBL to stop accepting deposits or top-ups in customer accounts, wallets, FASTags and…

The Directorate of Enforcement (ED) is likely to initiate a formal probe into Paytm to investigate issues flagged in the reference from the Reserve Bank of India (RBI), said people familiar with the matter.Paytm founder and chief executive officer Vijay Shekhar Sharma Tuesday met finance minister Nirmala Sitharaman in the backdrop of the banking regulator’s action against the fintech firm. He had met top RBI officials on Monday. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian…

In a shocking decision last week, the Reserve Bank of India had ordered Paytm Payments Bank not to accept fresh deposits or top-ups in any customer account, wallets or FASTags after February 29, citing non-compliance and regulatory concerns.…