Paytm Payments Bank not on list of 32 authorised banks for new FASTag. Here's why
10 months, 1 week ago

Paytm Payments Bank not on list of 32 authorised banks for new FASTag. Here's why

Hindustan Times  

In the midst of the ongoing controversy after the Reserve Bank of India crackdown, Paytm Payments Bank was left out of the list of 32 banks authorisied to issue new FASTag for vehicles, issued by the road tolling authority. Paytm Payments Bank not authorised to issue FASTag anymore The Indian Highway Management Company, which is the tolling arm of the National Highways Authority of India, issued a list of 32 authorities banks to get FASTag on vehicles in an X post. Buy your FASTag today from below authorised banks,” IHMCL said, leaving out Paytm Payments Bank from the list of 32 authorised banks. Earlier, IHMCL had issued a letter banning Paytm Payments Bank from issuing any new FASTags due to the recent controversy regarding its KYC verification, and the report issued by the Reserve Bank of India.

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History of this topic

Update FASTag KYC before March 31 deadline to avoid deactivation; Check steps, other details here
8 months, 3 weeks ago

Update FASTag KYC before March 31 deadline to avoid deactivation; Check steps, other details here

Live Mint  

FASTag KYC: The National Highways Authority of India has urged vehicle owners to complete their FASTag KYC process before April 1. People are advised to update their FASTag KYC details from their respective banks before the impending deadline of March 31. Failure to comply with this requirement may result in the deactivation or blacklisting of their FASTag accounts, regardless of …

Paytm Payments Bank removed from FASTag issuers list. These are authorised banks: Check full list here
9 months, 1 week ago

Paytm Payments Bank removed from FASTag issuers list. These are authorised banks: Check full list here

Hindustan Times  

FASTags authorised banks: The National Highway Authority of India updated list of authorized banks and non-banking financial companies which can issue FASTags. This comes after the Reserve Bank of India barred Paytm Payments Bank Ltd from certain operations including FASTags citing non-compliance and supervisory concerns. Paytm Payments Bank has been removed from the list of authorised banks for FASTags. Airtel …

Paytm Payments Bank removed from FASTag issuers list | Check full list of NHAI-authorized banks
9 months, 1 week ago

Paytm Payments Bank removed from FASTag issuers list | Check full list of NHAI-authorized banks

India TV News  

FASTags authorised banks: The National Highway Authority of India has updated the list of authorized banks and non-banking financial companies which can issue FASTags. The revised list does not include Paytm Payments Bank has been removed from the list of authorised banks for FASTags. The Reserve Bank of India has prohibited Paytm Payments Bank Ltd from conducting certain operations, including …

Finance Ministry’s Financial Intelligence Unit imposes ₹5.49 crore fine on Paytm Payments Bank for PMLA lapses
9 months, 3 weeks ago

Finance Ministry’s Financial Intelligence Unit imposes ₹5.49 crore fine on Paytm Payments Bank for PMLA lapses

The Hindu  

The Financial Intelligence Unit-India under the Union Finance Ministry has slapped a ₹5.49 crore penalty on Paytm Payments Bank Limited for violations of the Prevention of Money Laundering Act, after finding substantial proof of money generated from illegal activity being routed through accounts held by some entities with the bank. proceeds of crime were routed and channelled through bank accounts …

Paytm Payments Bank fined ₹5.49 crore for money laundering
9 months, 3 weeks ago

Paytm Payments Bank fined ₹5.49 crore for money laundering

Hindustan Times  

Financial Intelligence Unit on Friday imposed ₹5.49 crore penalty on Paytm Payments Bank for money laundering, PTI quoted the ministry of finance as saying. has imposed a monetary penalty of ₹5.49 crore on Paytm Payments Bank Ltd with reference to the violations of its obligations under the PMLA," the ministry said in a statement. A Paytm Payments Bank spokesperson said,"The …

Paytm discontinues inter-company agreements with Paytm Payments Bank
9 months, 3 weeks ago

Paytm discontinues inter-company agreements with Paytm Payments Bank

Live Mint  

Fintech major Paytm on March 1 said it has mutually agreed to discontinue various inter-company agreements with its payments bank unit Paytm Payments Bank to “reduce dependencies”, Reuters reported. The goal is to enhance the governance of Paytm Payments Bank, making it more independent of its shareholders. The Paytm Payment Bank Crisis Paytm's fintech arm, PPBL has been hit with …

Paytm Payments Bank Fastag Users: Switch To New Provider Before March 15, Check All Options Here
9 months, 4 weeks ago

Paytm Payments Bank Fastag Users: Switch To New Provider Before March 15, Check All Options Here

News 18  

Paytm Payments Bank can no longer offer FASTag services. Indian Highways Management Company Ltd, toll collecting arm of state-owned NHAI, recently advised highway users to buy FASTags from 32 authorised banks sans Paytm Payments Bank for hassle-free travel. However, no further funding or top-ups will be allowed in the FASTags issued by Paytm Payments Bank after March 15, 2024. The …

Paytm FASTag will not work after March 15. What alternatives are the best for you?
9 months, 4 weeks ago

Paytm FASTag will not work after March 15. What alternatives are the best for you?

Hindustan Times  

Customers using Paytm Payments Bank Limited for FASTags, will have to close their existing FASTags and open new ones after March 15, in line with the Reserve Bank of India's January 31 directive to PPBL – the banking arm of fintech major Paytm – over ‘persistent non-compliances.’ After March 15, 2024, you will not be able to top-up or recharge …

NPCI to examine Paytm's third-party app request for UPI: RBI
10 months ago

NPCI to examine Paytm's third-party app request for UPI: RBI

Hindustan Times  

The Reserve Bank of India on Friday said it has advised National Payments Corporation of India to examine One97 Communication Limited's request seeking approval for the Third-Party Application Provider route for continuation of Paytm's Unified Payments Interface services. Paytm Payments Bank cannot onboard new customers after March 15 One97 Communication Limited is the parent firm of fintech major Paytm. On …

Why is RBI so cranky about fintech firms after Paytm crisis?
10 months ago

Why is RBI so cranky about fintech firms after Paytm crisis?

Hindustan Times  

First, Paytm was asked to freeze its banking business, a crackdown so severe that India’s pioneering digital payments firm bled out nearly 60% of its market value in two weeks. While freezing fresh credits into Paytm Payments Bank accounts for “persistent non-compliances and continued material supervisory concerns,” RBI mandated that the bank terminate the nodal accounts of One 97 Communications …

Amid Paytm Payments Bank crackdown, Uday Kotak says ‘RBI knows better than you and I’
10 months ago

Amid Paytm Payments Bank crackdown, Uday Kotak says ‘RBI knows better than you and I’

Hindustan Times  

As the Reserve Bank of India continues its probe against Paytm Payments Bank and its alleged KYC irregularities, veteran banker Uday Kotak backed the move of the central bank on the recent developments. Uday Kotak, Founder, MD and CEO of Kotak Mahindra Bank Ltd While speaking regarding the ongoing Paytm Payments Bank matter, Kotak said he would not like to …

Paytm FASTag: How to delete your FASTag account from Paytm Payments Bank?
10 months ago

Paytm FASTag: How to delete your FASTag account from Paytm Payments Bank?

Hindustan Times  

The National Highway Authority of India removed Paytm Payments Bank Ltd from its approved list of FASTag providers. This comes as the Reserve Bank of India in January issued a report saying that Paytm Payments Bank faces charges of non-compliance and needs to halt its operations by February 29. Paytm FASTag: Car seen at Gurugram-Faridabad road toll plaza near Bandhwari …

Paytm FASTag port: How can you port account to other banks. Details
10 months ago

Paytm FASTag port: How can you port account to other banks. Details

Hindustan Times  

Paytm FASTag port: The National Highway Authority of India has not included Paytm Payments Bank in its list of 32 authorised banks for the service after regulatory actions by the Reserve Bank of India against the company. Paytm FASTag port: After March 15, 2024, you will not be able to top-up or recharge your FASTag issued by Paytm Payments Bank. …

Paytm invalid for FASTag: These are 32 authorised banks you can use
10 months ago

Paytm invalid for FASTag: These are 32 authorised banks you can use

Hindustan Times  

Paytm FASTag: The National Highways Authority of India removed Paytm from the list of authorised banks that can issue new FASTags. Paytm FASTag: Car seen at Gurugram-Faridabad road toll plaza near Bandhwari village, in Gurugram, India. Paytm FASTags will become non-functional after the Reserve Bank of India issued an order directing Paytm Payments Bank to cease taking deposits or top-ups …

Paytm Fastag Deactivate: How to do it, a step by step guide for you
10 months ago

Paytm Fastag Deactivate: How to do it, a step by step guide for you

Hindustan Times  

Paytm FASTags: Highway users have been asked to buy FASTags from 32 authorised banks and not Paytm Payments Bank after the Reserve Bank of India's directed Paytm to stop accepting deposits and top-ups from any customers after February 29. Paytm FASTag: After March 15, 2024, you will not be able to top-up or recharge your FASTag issued by Paytm Payments …

RBI action on Paytm Payments Bank has drawn fintechs' attention to compliance of laws: Chandrasekhar
10 months ago

RBI action on Paytm Payments Bank has drawn fintechs' attention to compliance of laws: Chandrasekhar

The Hindu  

The Reserve Bank's regulatory action on Paytm Payments Bank has drawn the attention of fintech firms to the importance of complying with laws, Union Minister Rajeev Chandrasekhar has said. In an interview to PTI, Mr. Chandrasekhar — the Minister of State for Electronics and IT — said the issue of Paytm Payments Bank is a case where a hard-charging and …

Lessons to learn from the Paytm Payments Bank mess
10 months ago

Lessons to learn from the Paytm Payments Bank mess

New Indian Express  

When the Reserve Bank of India announced partial suspension of Paytm Payments Bank operations, it evoked criticism that the regulator was high-handed in dealing with a new-age fintech firm. Despite clear indications of non-compliance, the payments bank founded by a first-generation entrepreneur still enjoys sympathy. The Paytm Payments Bank saga is a sordid tale of continued disregard for compliances and …

Paytm Payments Bank crisis: RBI issues 30 FAQs after crackdown
10 months, 1 week ago

Paytm Payments Bank crisis: RBI issues 30 FAQs after crackdown

Hindustan Times  

The Reserve Bank of India, soon after extending the deadline to halt operations, issued a list of frequently asked questions for Paytm Payments Bank account holders. After March 15, 2024, you will not be able to deposit money into your account with Paytm Payments Bank. After March 15, 2024, you will not be able to receive any such credits into …

Paytm FASTag holders advised to switch to other banks by March 15| Details
10 months, 1 week ago

Paytm FASTag holders advised to switch to other banks by March 15| Details

India Today  

The Indian Highways Management Company Ltd, which collects tolls for the government on highways, says people should get FASTags from 32 banks, not including Paytm Payments Bank, for easier travel. But the Reserve Bank of India, on Friday, said in its frequently asked questions that people can still use FASTags to pay tolls as long as there's enough money in …

RBI Releases FAQs on Paytm Payments Bank Operations After March 15
10 months, 1 week ago

RBI Releases FAQs on Paytm Payments Bank Operations After March 15

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Friday issued a list of frequently asked questions on Paytm Payments Bank for the convenience of the customers of the fintech giant which has been banned from onboarding new customers. The RBI in a press statement announced extending the deadline for Paytm Payments Bank to wind down operations by 15 days to March …

RBI extends deadline for Paytm Bank customers to make deposits, access credit transactions till March 15
10 months, 1 week ago

RBI extends deadline for Paytm Bank customers to make deposits, access credit transactions till March 15

The Hindu  

The Reserve Bank of India has extended the earlier stipulated deadline for Paytm Payments Bank’s customers to make deposits and access credit transactions till March 15, 2024. However, those merchants who are accepting payments using a Paytm QR code, Paytm soundbox, Paytm POS terminal linked to their bank account or wallet with Paytm Payments Bank will not be able to …

RBI gives 15 days relaxation to Paytm Payments bank, says Paytm QR, soundbox, POS will continue to work
10 months, 1 week ago

RBI gives 15 days relaxation to Paytm Payments bank, says Paytm QR, soundbox, POS will continue to work

Op India  

The Reserve Bank of India on Friday gave a 15 day relaxation to Paytm payments bank on accepting deposits. However, no fresh deposits with partner banks through Paytm Payments Bank will be allowed after March 15, 2024. Merchants using Paytm Payments Bank to receive payments using a Paytm QR code, Paytm soundbox or Paytm POS terminal, linked to another bank …

RBI grants Paytm Payments Bank extension until March 15 to stop deposits
10 months, 1 week ago

RBI grants Paytm Payments Bank extension until March 15 to stop deposits

Hindustan Times  

The RBI on Friday gave 15 days more till March 15, 2024 to Paytm Payments Bank Ltd to stop deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants. A customer pays cash to buy vegetables next to a QR code of Paytm, a digital payments firm, on display …

After Paytm, more payments banks under RBI scanner for money laundering: Report
10 months, 1 week ago

After Paytm, more payments banks under RBI scanner for money laundering: Report

Hindustan Times  

After the Reserve Bank of India cracked down on Paytm Payments Bank last month, more banks are under the scanner for compliance with regulatory norms to curb money laundering, said The Economic Times reported. RBI headquarters in Mumbai The Financial Intelligence Unit has detected around 50,000 bank accounts without proper know-your-customer documents, triggering suspicion of money laundering, ET reported While …

RBI releases Paytm Payments Bank FAQs. Check what happens to wallets, FASTags
10 months, 1 week ago

RBI releases Paytm Payments Bank FAQs. Check what happens to wallets, FASTags

India Today  

The Reserve Bank of India has announced an extension of the deadline for the operations of Paytm Payments Bank Limited. Wallet services, FASTags, and NCMC cards issued by Paytm Payments Bank can be used until the balance is exhausted, but no top-ups or recharges will be allowed after March 15, 2024. Deposits or transfers into Paytm Payments Bank accounts will …

Enforcement Directorate questions Paytm executives; gets documents on latest RBI action
10 months, 1 week ago

Enforcement Directorate questions Paytm executives; gets documents on latest RBI action

The Hindu  

“The Enforcement Directorate has questioned senior Paytm executives and taken submission of documents from them following the recent Reserve Bank of India action of barring Paytm Payments Bank Limited from accepting deposits or top-ups in any customer account,” official sources said on February 15. Paytm said its associate Paytm Payments Bank Limited does not undertake outward foreign remittances. "One 97 …

Paytm crisis: Firm reacts amid reports of ED probing Paytm Payments Bank case
10 months, 1 week ago

Paytm crisis: Firm reacts amid reports of ED probing Paytm Payments Bank case

Hindustan Times  

Fintech company Paytm in an exchange filing clarified about the reports of an investigation by the Enforcement Directorate, saying that no FEMA violation cases have been filed against the company by the probe agency. Paytm denies reports of ED probe against firm One 97 Communications Limited, the parent company of Paytm and Paytm Payments Bank, stated in an exchange filing …

ED questions Paytm executives, collects documents on RBI restrictions
10 months, 1 week ago

ED questions Paytm executives, collects documents on RBI restrictions

India TV News  

The Enforcement Directorate has questioned senior executives at Paytm and collected documents from them in response to the recent Reserve Bank of India action, which barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account. One97 Communications, the parent company of Paytm, and its banking arm, Paytm Payments Bank, have been receiving notices and requests for …

RBI Proceedings Against Paytm Payment Bank: Regulatory Compliances
10 months, 1 week ago

RBI Proceedings Against Paytm Payment Bank: Regulatory Compliances

Live Law  

The recent action of the Reserve Bank of India against Paytm's subsidiary, the Paytm Payment Bank has sent ripples across the fintech industry. This action of the RBI comes in light of multiple repeated violations by the Paytm Payment Bank of various compliances, regulations, and directions that are in place to regulate the functioning of payment banks. It is pertinent …

Paytm Payments Bank faces probe over foreign exchange violations
10 months, 1 week ago

Paytm Payments Bank faces probe over foreign exchange violations

India Today  

A case has been filed against crisis-hit Paytm Payments Bank Limited over violation of rules under the Foreign Exchange Management Act. The development comes two weeks after the Reserve Bank of India took strict regulatory action against Paytm Payments Bank and asked it to stop key operations. In its order, the RBI said it initiated regulatory action against Paytm Payments …

Paytm Chronicle Continues: From FAQs to RBI's Firm Stand, What We Know So Far
10 months, 1 week ago

Paytm Chronicle Continues: From FAQs to RBI's Firm Stand, What We Know So Far

News 18  

On Monday, Reserve Bank of India Governor Shaktikanta Das said there was “hardly any room” to review the action taken against Paytm Payments Bank. Asked if the deadline of February 29 would be extended, Das said, “Wait for the FAQ.” “Don’t expect review of RBI’s decision in FAQ. “Just one clarification, this particular action is against Paytm Payments Bank and …

RBI Governor Shaktikanta Das rules out review of action against Paytm Payments Bank
10 months, 1 week ago

RBI Governor Shaktikanta Das rules out review of action against Paytm Payments Bank

The Hindu  

Reserve Bank of India Governor Shaktikanta Das ruled out any review of the central bank's action against Paytm Payments Bank on February 12, saying the decision was taken after a comprehensive assessment of the functioning of the lender. RBI’s action against Paytm Payments Bank While announcing the action against PPBL, the RBI had said the direction follows persistent non-compliances and …

Will RBI review its action against Paytm Payments Bank? Shaktikanta Das says…
10 months, 1 week ago

Will RBI review its action against Paytm Payments Bank? Shaktikanta Das says…

Hindustan Times  

Reserve Bank of India governor Shaktikanta Das on Monday made it clear that the central bank will not review its action against Paytm Payments Bank, while adding that the action was taken after a comprehensive assessment of the functioning of the lender. Reserve Bank of India Governor Shaktikanta Das ‘Committed to protect the interest of customers’: RBI governor The meeting …

RBI rules out review of action against Paytm Payments Bank, to issue FAQ to address customers' concerns
10 months, 1 week ago

RBI rules out review of action against Paytm Payments Bank, to issue FAQ to address customers' concerns

India TV News  

New Delhi: Reserve Bank of India Governor Shaktikanta Das on Monday ruled out any review of the central bank's action against Paytm Payments Bank, stating that the decision was made following a comprehensive assessment. On January 31, RBI took significant action against Paytm Payments Bank, instructing the bank to cease accepting deposits or top-ups in customer accounts, wallets, FASTags, and …

Paytm to form advisory committee on compliance, regulatory matters led by ex-SEBI head
10 months, 2 weeks ago

Paytm to form advisory committee on compliance, regulatory matters led by ex-SEBI head

Hindustan Times  

Fintech firm One97 Communications, which owns Paytm brand, on Friday announced setting up of a group advisory committee headed by former Sebi Chairman M Damodaran, amid its associate payments bank entity facing regulatory action for non-compliance with RBI norms. Among other responsibilities, Damodaran had chaired high-powered committees for the Union government, RBI and was also elected Chairman of the EMC …

RBI on clampdown against Paytm Payments Bank: ‘Persistent non-compliance’
10 months, 2 weeks ago

RBI on clampdown against Paytm Payments Bank: ‘Persistent non-compliance’

Hindustan Times  

The Reserve Bank of India on Thursday said the action against Paytm was taken due to the fintech firm's ‘persisted non-compliance’. “RBI will be issuing a set of FAQs next week to assuage public concerns following the Paytm action,” Das said. Last week, the central bank had barred Paytm Payments Bank from accepting new deposits from February 29. “Withdrawal or …

Paytm crisis: Vijay Shekhar Sharma knocks at Nirmala Sitharaman's door, gets curt reply
10 months, 2 weeks ago

Paytm crisis: Vijay Shekhar Sharma knocks at Nirmala Sitharaman's door, gets curt reply

Hindustan Times  

Paytm founder and chief executive officer Vijay Shekhar Sharma on Tuesday had met finance minister Nirmala Sitharaman in wake of the Reserve Bank of India actions against his Paytm Payments Bank. According to a Moneycontrol report, the central bank refused to grant any concession to the Paytm Payments Bank including the migration of users' accounts to other banks and extension …

Big setback to Paytm as RBI refuses concessions to Vijay Shekhar Sharma-led fintech firm: Report
10 months, 2 weeks ago

Big setback to Paytm as RBI refuses concessions to Vijay Shekhar Sharma-led fintech firm: Report

Hindustan Times  

In a massive setback to Paytm, the Reserve Bank of India has refused to offer any concessions during its meeting with the fintech firm founder Vijay Shekhar Sharma. The central bank refused to help Paytm Payments Bank in any manner, including the migration of accounts to other banks or extending the deadline after February 29, Moneycontrol reported. Banks not keen …

ED probing Paytm and bank unit over currency transactions: sources
10 months, 2 weeks ago

ED probing Paytm and bank unit over currency transactions: sources

The Hindu  

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 Reserve Bank of India ordered Paytm Payments Bank to wind down most of its businesses, including deposits, credit products and its popular digital wallets, by Feb. 29. The Paytm …

Paytm woes worsen as traders' body advises users to switch to other payment apps after RBI crackdown
10 months, 2 weeks ago

Paytm woes worsen as traders' body advises users to switch to other payment apps after RBI crackdown

Hindustan Times  

After the Reserve Bank of India cracked down against Paytm Payments Bank and its regulatory violations, traders' body CAIT issued a cautionary advice to Paytm users, urging them to switch to other payment apps. The Confederation of All India Traders said in a statement that traders are advised to use payment platforms other than Paytm for business-related transactions as RBI …

RBI restriction on Paytm: CAIT advises traders to switch from Paytm to other payment apps in light of RBI action
10 months, 2 weeks ago

RBI restriction on Paytm: CAIT advises traders to switch from Paytm to other payment apps in light of RBI action

The Hindu  

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. Large number of small traders, vendors, hawkers and women are making payments through Paytm and as such RBI restrictions on Paytm could lead financial disruption to these people," …

Money Laundering Concerns, KYC Non-compliance led To Paytm Bank's Ban by RBI
10 months, 2 weeks ago

Money Laundering Concerns, KYC Non-compliance led To Paytm Bank's Ban by RBI

ABP News  

Money laundering concerns and questionable dealings of hundreds of crores of rupees between popular wallet Paytm and its lesser-known banking arm had led Reserve Bank of India to clamp down on tech poster boy Vijay Sekhar Sharma-run entities, sources said. The central bank has ordered Paytm Payments Bank Ltd to halt most of its business including taking further deposits, conducting …

Why Did Paytm Shares Tank Another 20% Today? Know Details of RBI's Action Against Paytm Payments Bank
10 months, 3 weeks ago

Why Did Paytm Shares Tank Another 20% Today? Know Details of RBI's Action Against Paytm Payments Bank

News 18  

Shares of One97 Communications Ltd, which owns Paytm brand, on Friday plummetted another 20 per cent. The decline comes as the RBI has directed Paytm Payments Bank Ltd to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. Fintech firm Paytm sees an impact of Rs 300-500 crore on its annual operational …

Paytm’s Downfall: Once valued at over Rs 18,300 cr, stock sees another 20% dip, now at Rs 487
10 months, 3 weeks ago

Paytm’s Downfall: Once valued at over Rs 18,300 cr, stock sees another 20% dip, now at Rs 487

Firstpost  

After seeing its shares fall by 20 per cent on Thursday, the day, after the Reserve Bank of India took decisive action against Paytm Payments Bank and prohibited them from offering its core services, including accounts and wallets, effective from March, shares of the troubled fintech company, dropped by another 20 per cent. Additionally, the central bank instructed the termination …

Paytm Payments Bank: A look at previous RBI actions against Paytm subsidiary
10 months, 3 weeks ago

Paytm Payments Bank: A look at previous RBI actions against Paytm subsidiary

Hindustan Times  

Paytm Payments Bank, a wholly-owned subsidiary of fintech major Paytm, has been barred by the Reserve Bank of India from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, and more, after February 29. Representative Image However, this is not for the first time that Paytm Payments Bank, launched in November 2017, finds itself in trouble. …

On Paytm Payments Bank curbs by RBI, Ashneer Grover cries ‘doglapan’
10 months, 3 weeks ago

On Paytm Payments Bank curbs by RBI, Ashneer Grover cries ‘doglapan’

Hindustan Times  

Bharat Pe co-founder Ashneer Grover has hit out at the Reserve Bank of India after the central bank barred Paytm Payments Bank from accepting new deposits from February 29. The Reserve Bank on Wednesday directed the lender to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after February 29. “No further deposits or credit …

Congress's 'Chinese link' dig at Modi govt after RBI's Paytm Payments Bank order
10 months, 3 weeks ago

Congress's 'Chinese link' dig at Modi govt after RBI's Paytm Payments Bank order

Hindustan Times  

The Congress said the Reserve Bank of India's directive to Paytm Payments Bank, a wholly owned subsidiary of Paytm, to cease accepting new deposits will have the most significant impact on the common man. In a post on X, Congress general secretary Jairam Ramesh on Wednesday said, “Why has a firm with Chinese links — at one point with 31 …

RBI Bars Paytm Bank from Offering Banking Services After February 29
10 months, 3 weeks ago

RBI Bars Paytm Bank from Offering Banking Services After February 29

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Wednesday banned Paytm Payments Bank Ltd from offering all forms of banking services including fund transfers via Unified Payments Interface, IMPS, Aadhaar-enabled payments and bill payment transactions, effective February 29, 2024. However Paytm customers need not worry as they can continue to utilise balances from their accounts, including savings and current without restriction …

RBI's action against Paytm Payments Bank explained
10 months, 3 weeks ago

RBI's action against Paytm Payments Bank explained

Hindustan Times  

New Delhi: The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting fresh deposits and making credit transactions. The RBI said the Paytm Payments Bank's continued material supervisory concerns warranted supervisory action. Noida-based One 97 Communications Ltd is the parent company of the Paytm Payments Bank. This means if a person wants to transfer the balance …

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