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 continued material supervisory concerns. In its latest action, RBI has asked the Paytm Payments Bank not to take deposits, credit transactions, top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and NCMC cards, among others after February 29, 2024. The RBI also directed termination of the 'nodal accounts' of One97 Communications Ltd. One97 Communications, which owns Paytm brand, holds a 49 per cent stake in Paytm Payments Bank Limited, but classifies it as an associate of the company and not as a subsidiary.

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History of this topic

RBI MPC Meeting: When and where to watch Governor Shaktikanta Das’ policy announcement
2 weeks, 5 days ago

RBI MPC Meeting: When and where to watch Governor Shaktikanta Das’ policy announcement

Live Mint  

RBI MPC Meeting: Reserve Bank of India's three-day monetary policy committee started its meeting on Wednesday, December 4, to decide on interest rates for the Indian economy and the central bank's policy stance. The central bank's bi-monthly policy meeting comes forth amid the backdrop of sticky inflation and slowing growth in the nation's economy. RBI's current policy stance & expectations …

Is Paytm in talks with Adani Group to sell stake? Company issues clarification
6 months, 3 weeks ago

Is Paytm in talks with Adani Group to sell stake? Company issues clarification

India TV News  

New Delhi: One97 Communications Limited, the parent company of Paytm, has denied being in discussions with the Adani Group about a potential stake sale, terming the report "speculative". This clarification comes in response to a report suggesting that billionaire Gautam Adani was in talks with Paytm founder Vijay Shankar Sharma to buy a stake in the digital payments company. News …

Paytm stock gains for 4th consecutive day: Is the worst over?
9 months ago

Paytm stock gains for 4th consecutive day: Is the worst over?

Hindustan Times  

Paytm share price: Shares of One97 Communications, Paytm's parent company, extended gains for the fourth consecutive session as the stock soared over 4% intra-day basis today hitting day high of ₹425.70 on the NSE. Analysts on Paytm stock Global brokerage firm Morgan Stanley reaffirmed its ‘Equal-Weight’ rating on the stock and maintained a price target of ₹555 per share while …

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 …

Will Paytm wallet users face disruption? What RBI governor Shaktikanta Das said
9 months, 2 weeks ago

Will Paytm wallet users face disruption? What RBI governor Shaktikanta Das said

Hindustan Times  

RBI governor Shaktikanta Das said that as many as 80-85% Paytm wallet users will not face any disruption because of regulatory actions taken by the central bank against the company. Remaining users have been advised to link their apps to other banks, he said, after RBI on January 31 barred Paytm Payments Bank Ltd from accepting deposits, credit transactions or …

The inevitable woes of Vijay Shekhar Sharma
9 months, 3 weeks ago

The inevitable woes of Vijay Shekhar Sharma

Hindustan Times  

In February, this column argued it is too early to write off Vijay Shekhar Sharma, the founder of PayTM. The RBI compelled PayTM’s parent company One97 to say it will terminate relations with PayTM Payments Bank. Those in senior roles at the central bank agreed that Sharma is a “schizophrenic” and that the RBI ought to have acted earlier. The …

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 cuts ties with Paytm Payments Bank, ends inter-company pacts after RBI's crackdown
9 months, 3 weeks ago

Paytm cuts ties with Paytm Payments Bank, ends inter-company pacts after RBI's crackdown

Hindustan Times  

Paytm's parent company One 97 Communications said in a company filing on Friday that the firm's board has decided to discontinue the inter-company pacts with its banking service Paytm Payments Bank to reduce dependencies. Paytm has cut company ties with Paytm Payments Bank Paytm Payments Bank Limited has remained under the lens of the Reserve Bank of India for a …

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 …

SoftBank’s Stake in Paytm Down to 2.83 pc
9 months, 3 weeks ago

SoftBank’s Stake in Paytm Down to 2.83 pc

Deccan Chronicle  

Chennai: Japanese investor SoftBank has divested 2.17 per cent stake worth Rs 580 crore in Paytm. With this fifth divestment in this fiscal, SoftBank’s stake in Paytm has come down to 2.83 per cent. Paytm, which has been facing regulatory hurdles, saw SoftBank divesting 1,37,84,787 equity shares in a series of disposals between January 23 and February 26, as per …

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 …

Vijay Shekhar Sharma steps down as Paytm Payments Bank chairman
9 months, 4 weeks ago

Vijay Shekhar Sharma steps down as Paytm Payments Bank chairman

India TV News  

Vijay Shekhar Sharma has stepped down as chairman of Paytm Payments Bank after the bank reconstituted the board. According to the One 97 Communications Ltd, the parent firm of Paytm said that Vijay Shekhar Sharma has stepped down as part-time non-executive chairman and board member to enable the transition. "OCL withdraws its nominee from the Paytm Payments Bank Board and …

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 …

Will Paytm Wallet continue to work after March 15? So far Paytm has not clarified clearly
10 months ago

Will Paytm Wallet continue to work after March 15? So far Paytm has not clarified clearly

India Today  

Paytm Payments Bank will be banned or seized next month as the deadline for this just recently got extended. While the company has published a dedicated FAQ page to explain what will work on Paytm after March 15, it hasn't clarified whether Wallet will continue to work even if you haven't linked with Paytm Payments Bank. It's important to note …

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 shares rebound after losing 50% in a month. What's next?
10 months ago

Paytm shares rebound after losing 50% in a month. What's next?

India Today  

Shares of digital payments firm Paytm have been on a winning run for the past four trading sessions, rising nearly 21 per cent after declining sharply over the past month. Paytm shares are down nearly 50 per cent in a month, following the Reserve Bank of India’s regulatory action against its associate, Paytm Payments Bank. In addition, the RBI’s recently …

Paytm, Axis Bank to apply this week for third-party route for UPI: Report
10 months ago

Paytm, Axis Bank to apply this week for third-party route for UPI: Report

Hindustan Times  

One97 Communications Limited, which owns Paytm, and recently joined hands with Axis Bank in the wake of Reserve Bank of India's crackdown against Paytm Payments Bank, will apply this week for the third-party application provider route, with the application to be sent to the National Payments Corporation of India, Moneycontrol has reported. Cutlery vendor switches on Paytm, a digital payments …

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 shares surge 5% as Axis Bank steps in for merchant settlements amid RBI compliance woes
10 months ago

Paytm shares surge 5% as Axis Bank steps in for merchant settlements amid RBI compliance woes

New Indian Express  

NEW DELHI: Shares of One97 Communications -- owner of the brand Paytm -- jumped 5 per cent in the morning trade on Monday after the crisis-hit fintech company's decision to collaborate with Axis Bank for the continuation of merchant settlements. In the morning trade, the 30-share BSE Sensex benchmark gained 185.81 points or 0.26 per cent to 72,612.45, while NSE …

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 …

No FEMA violation found by ED in Paytm Payments Bank case: Report
10 months, 1 week ago

No FEMA violation found by ED in Paytm Payments Bank case: Report

Hindustan Times  

In the case of Paytm Payments Bank Limited, the Enforcement Directorate has not found any violation under the Foreign Exchange Management Act, The Hindu has reported quoting people familiar with the development. REUTERS/Florence Lo/Illustration//File Photo Only the apex Reserve Bank of India, which, on January 31, prohibited PPBL from onboarding new customers after February 29, cracking down due to ‘persistent …

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 …

ED finds no FEMA violation in Paytm Payments Bank case
10 months, 1 week ago

ED finds no FEMA violation in Paytm Payments Bank case

The Hindu  

February 17, 2024 03:00 am | Updated 11:44 am IST - NEW DELHI The Enforcement Directorate has not found any violation under the Foreign Exchange Management Act during the inquiry of Paytm Payments Bank Limited transactions. On January 31, the RBI had issued a circular barring PPBL from taking further deposits, top-ups or undertaking credit transactions into its customer accounts, …

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 gives 15 more days till March 15 to Paytm Payments Bank to stop transactions
10 months, 1 week ago

RBI gives 15 more days till March 15 to Paytm Payments Bank to stop transactions

The Hindu  

The RBI on February 16 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. As per a January 31 order of the central bank, PPBL was asked to stop further deposits, credit transactions, …

Paytm Crisis: RBI Extends Deadlines on Certain Business Restrictions Till March 15
10 months, 1 week ago

Paytm Crisis: RBI Extends Deadlines on Certain Business Restrictions Till March 15

News 18  

The Reserve Bank of India on Friday extended deadlines on certain business restrictions regarding Paytm Payments Bank Ltd by 15 days till March 15, 2024, as against the February 29 decided earlier. PPBL Business Restrictions Where Deadline Extended Till March 15 In a notification, the RBI said, “No further deposits or credit transactions or top ups shall be allowed in …

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 …

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 …

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 …

Paytm Payments Bank gets reprieve till March 15, RBI cites customers' interest
10 months, 1 week ago

Paytm Payments Bank gets reprieve till March 15, RBI cites customers' interest

India Today  

The Reserve Bank of India on Friday extended the earlier deadline given to Paytm Payments Bank Limited to stop key services, including credit transactions, deposits, wallet, and FASTags. The central bank has said in a fresh circular that the new deadline is March 15, and also released a list of FAQ on Paytm Payments Bank. "Keeping in view the interest …

Paytm share price hits all-time low amid ED probe against fintech firm
10 months, 1 week ago

Paytm share price hits all-time low amid ED probe against fintech firm

Hindustan Times  

Paytm shares hit all-time low on Thursday amid the Enforcement Directorate probe against the fintech firm following the Reserve Bank of India action against Paytm Payments Bank. The declining share prices have added more salt to the wounds of Paytm, which is now under Enforcement Directorate investigation after the RBI barred its subsidiary Paytm Payments Bank from accepting new deposits …

ED questions Paytm officials, gets documents on RBI action: Report
10 months, 1 week ago

ED questions Paytm officials, gets documents on RBI action: Report

Hindustan Times  

The Enforcement Directorate questioned senior Paytm officials and had got documents from them following the Reserve Bank of India action against Paytm Payments Bank, officials told PTI. In a regulatory filing, Paytm had said,"One 97 Communications Limited, its subsidiaries and its associate, Paytm Payments Bank Limited, have over time been receiving notices and requisition for information, documents and explanations from …

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 …

Paytm plunges nearly 8 per cent to hit 52-week low; here's why
10 months, 1 week ago

Paytm plunges nearly 8 per cent to hit 52-week low; here's why

India TV News  

Paytm's parent company, One97 Communications, witnessed a significant drop in its shares on Tuesday, declining by nearly 8 per cent following Reserve Bank of India Governor Das's statement affirming the central bank's stance against Paytm Payments Bank Ltd. Meanwhile, the broader market indices showed a positive trend, with the BSE Sensex surging by 436.83 points, or 0.61 per cent to …

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 …

Paytm forms advisory panel under former SEBI chairman M Damodaran
10 months, 2 weeks ago

Paytm forms advisory panel under former SEBI chairman M Damodaran

Live Mint  

The owner of fintech firm Paytm, One 97 Communications Limited, on Friday announced the formation of an advisory committee chaired by former Securities and Exchange Board of India chairman M Damodaran. The three-member committee includes former president of the Institute of Chartered Accountants of India MM Chitale and former chairman and MD of Andhra Bank R Ramachandran. “The Board of …

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