Paytm Payments Bank ‘at farms length’ from One97, don’t need incremental customers for credit business growth: Vijay Shekhar Sharma
1 year, 4 months ago

Paytm Payments Bank ‘at farms length’ from One97, don’t need incremental customers for credit business growth: Vijay Shekhar Sharma

The Hindu  

Paytm Payments Bank Ltd and One97 Communications Ltd are two different companies which operate not just at arm's length but "at farms" length, a top official of Paytm said on Saturday. In response to a question on the impact of the RBI banning Paytm Payment Bank Ltd from onboarding new customers, Paytm founder and CEO Vijay Shekhar Sharma during the company's second-quarter earnings call said that the company does not need incremental customers for the growth of credit business. Paytm's revenue for financial services and others grew 64 per cent YoY to Rs 571 crore in the reported quarter. Sharma said that old customers on Paytm platform are better placed to get credit disbursed from the firm's lending partner compared to a new consumer who would have a very small footprint on the platform.

Bank Crore Sharma New Customers Paytm Payments Bank Paytm Payments Ppbl Rbi Incremental Customers Credit Business  incremental  customers  ppbl  rbi  one97  financial  paytm  payments  crore  sharma  growth  rs  bank  length  vijay  need  company  shekhar

History of this topic

Paytm Payments Services CEO Nakul Jain steps down amid awaited RBI approval for aggregator licence
1 month, 2 weeks ago

Paytm Payments Services CEO Nakul Jain steps down amid awaited RBI approval for aggregator licence

Live Mint  

Paytm Payments Services Limited CEO Nakul Jain will be resigning on March 31, 2025, its parent company One97 Communications informed in an exchange filing on Monday. Paytm Payments Services awaits RBI nod Nakul Jain's resignation comes as the fintech company is awaiting the Reserve Bank of India's approval for a payment aggregator licence. Paytm Q3FY25 results One97 Communications reported earnings …

‘We have learnt our lessons’: Vijay Shekhar Sharma expects Paytm Payments Bank to get back into business soon
1 month, 3 weeks ago

‘We have learnt our lessons’: Vijay Shekhar Sharma expects Paytm Payments Bank to get back into business soon

Live Mint  

Paytm founder and Chief Executive Officer Vijay Shekhar Sharma said he expects Paytm Payments Bank to get back into business again, according to a Bloomberg report. Last year, the Reserve Bank of India imposed new restrictions on Paytm Payments Bank after multiple warnings about data flows between the bank and fintech Paytm. “We’ve learnt our lessons and we’ve dramatically changed …

Paytm to reapply for payments aggregator licence after nod for infusion by parent
6 months, 2 weeks ago

Paytm to reapply for payments aggregator licence after nod for infusion by parent

Live Mint  

Bengaluru: Paytm Payments Services Ltd received the finance ministry’s approval for a downstream investment by its parent, making it eligible to seek a payments aggregator licence again, in some relief amid regulatory scrutiny. A payments aggregator licence will take PPSL a step closer to normalizing its business operations after a string of regulatory setbacks that halted bulk of its business. …

Paytm said to get government nod to invest in payments arm: report
8 months, 1 week ago

Paytm said to get government nod to invest in payments arm: report

The Hindu  

India's beleaguered Paytm has secured approval from a government panel that oversees investments linked to China to invest 500 million rupees in a key subsidiary, three sources with direct knowledge of the matter said. The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal …

Is Paytm in talks with Adani Group to sell stake? Company issues clarification
9 months, 2 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 aims to cut around 20 per cent of workforce amid rising employee costs: Report
9 months, 3 weeks ago

Paytm aims to cut around 20 per cent of workforce amid rising employee costs: Report

India TV News  

Digital payments firm Paytm is reportedly contemplating a workforce reduction of approximately 15-20 per cent in the ongoing financial year as part of its strategy to reduce employee costs. This surge likely elevated the average employee cost to an estimated Rs 10,60,000, reflecting the company's evolving financial dynamics, as per a report by the Financial Express. Paytm aims to cut …

Paytm layoffs: Company warns of job cuts as revenue falls 2.7%
9 months, 3 weeks ago

Paytm layoffs: Company warns of job cuts as revenue falls 2.7%

Hindustan Times  

Paytm announced that there may be job cuts at the company as it plans to trim non-core assets following its first-ever decline in sales on May 22. Paytm reported Q4 results after a regulatory probe into its financial arm Paytm Payments Bank by the Reserve Bank of India In a letter to shareholders, Vijay Shekhar Sharma said, “We expect near-term …

Paytm Q4: Vijay Shekhar Sharma tells shareholders ‘anticipate tangible results’
9 months, 3 weeks ago

Paytm Q4: Vijay Shekhar Sharma tells shareholders ‘anticipate tangible results’

Hindustan Times  

Paytm's Vijay Shekhar Sharma told shareholders that the company's revenue and profitability will be impacted in the near-term due to disruptions faced in the business in Quarter 4. Vijay Shekhar Sharma, founder and chairman of One97 Communications Ltd., operator of Paytm, attends the Japan Fintech Festival in Tokyo, Japan. Full text of Paytm founder and CEO Vijay Shekhar Sharma’s letter …

Paytm starts migrating users to new UPI IDs: What changes for you?
11 months ago

Paytm starts migrating users to new UPI IDs: What changes for you?

Hindustan Times  

One97 Communications Limited, Paytm's parent company, began migrating customers to partner payment service provider banks Axis Bank, HDFC Bank, SBI and Yes Bank. Until now, Paytm UPI customers were using Paytm Payments Bank Limited which was barred by the Reserve Bank of India from conducting several business operations. Paytm roped in Axis Bank, Yes Bank, SBI and HDFC Bank as …

Paytm jumps 5% as digital payments app survives banking unit shutdown
1 year ago

Paytm jumps 5% as digital payments app survives banking unit shutdown

The Hindu  

Shares of India's Paytm rose a stock exchange-allowed maximum of 5% on Friday, March 15, 2024, a day after it got a third-party application provider license that will allow it to offer digital payments after its banking unit ceases operations. The license, granted by the country's payments authority, came as Paytm Payments Bank will cease to operate on March 15, …

Paytm gets regulatory nod to become a third-party UPI app: What it means for you
1 year ago

Paytm gets regulatory nod to become a third-party UPI app: What it means for you

Hindustan Times  

Paytm third party app: National Payments Corporation of India granted approval to One97 Communications Limited, Paytm's parent entity, to participate in UPI services as a third-party application provider. "YES Bank shall also be acting as merchant acquiring bank for existing and new UPI merchants for OCL. Paytm third party app: What it means for customers The nod means you can …

Paytm cuts ties with Paytm Payments Bank, ends inter-company pacts after RBI's crackdown
1 year 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
1 year 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 takes strategic measures amid PPBL crisis: Discontinues inter-company agreements to cut dependencies
1 year ago

Paytm takes strategic measures amid PPBL crisis: Discontinues inter-company agreements to cut dependencies

India TV News  

In response to regulatory actions from the Reserve Bank of India, One 97 Communications, the parent company of Paytm, has announced plans to discontinue inter-company agreements with its associate entity, Paytm Payments Bank Limited. Board approves discontinuation of agreements The decision to terminate inter-company pacts and simplify the shareholder agreement was approved by the board of One 97 Communications on …

Why did Vijay Shekhar Sharma have to resign as Paytm Payments Bank chairman?
1 year ago

Why did Vijay Shekhar Sharma have to resign as Paytm Payments Bank chairman?

Hindustan Times  

Vijay Shekhar Sharma, the founder and CEO of Paytm, has resigned from his position as part-time non-executive chairman of Paytm Payments Bank Limited amid RBI's clampdown on the fintech firm over compliance issues. Vijay Shekhar Sharma, the Founder and CEO of Paytm Due to persistent non-compliance and ongoing material supervisory concerns, the Reserve Bank of India has prohibited PPBL from …

Vijay Shekhar Sharma resigns as chairman of Paytm Payments Bank; board reconstituted
1 year ago

Vijay Shekhar Sharma resigns as chairman of Paytm Payments Bank; board reconstituted

Hindustan Times  

Paytm founder Vijay Shekhar Sharma has resigned as part-time non-executive Chairman of Paytm Payments Bank Limited ahead of the March 15 deadline to wind down its business. PPBL has also reconstituted its Board of Directors with the appointment of Ex-Central Bank of India Chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former Executive Director of Bank of Baroda Ashok Kumar …

Paytm Payments Bank Fastag Users: Switch To New Provider Before March 15, Check All Options Here
1 year 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 Payments Bank Chairman Vijay Shekhar Sharma quits
1 year ago

Paytm Payments Bank Chairman Vijay Shekhar Sharma quits

India Today  

Paytm founder Vijay Shekhar Sharma on Monday resigned as Paytm Payments Bank Chairman ahead of March 15 deadline set by the Reserve Bank of India to accept further credits into its customer accounts. Vijay Shekhar Sharma was the part-time non-executive Chairman of Paytm Payments Bank Limited. The announcement comes weeks after RBI barred Paytm Payments Bank from receiving deposits and …

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

Paytm, Axis Bank to apply this week for third-party route for UPI: Report
1 year, 1 month 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 shares surge 5% as Axis Bank steps in for merchant settlements amid RBI compliance woes
1 year, 1 month 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 …

Paytm Payments Bank crisis: RBI issues 30 FAQs after crackdown
1 year, 1 month 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 partners with Axis Bank to settle merchant payments amid RBI crackdown against payments bank
1 year, 1 month ago

Paytm partners with Axis Bank to settle merchant payments amid RBI crackdown against payments bank

Hindustan Times  

Amid the Paytm Payments Bank crisis, fintech company Paytm has decided to sign a partnership deal with Axis Bank to initiate the smooth settlement of merchant transactions. Paytm partners with Axis Bank for continues transactions This comes after RBI advised all merchants and customers to shift their accounts from Paytm Payments Bank to other banks before the March 15 deadline. …

RBI extends deadline for Paytm Bank customers to make deposits, access credit transactions till March 15
1 year, 1 month 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
1 year, 1 month 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
1 year, 1 month 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
1 year, 1 month 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
1 year, 1 month 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 …

Paytm Payments Bank gets reprieve till March 15, RBI cites customers' interest
1 year, 1 month 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 Says Merchants With QR Code Don't Need To Look For Alternatives
1 year, 1 month ago

Paytm Says Merchants With QR Code Don't Need To Look For Alternatives

ABP News  

Paytm, the pioneer of QR and mobile payments, on Tuesday announced that its QR codes will continue to function as usual, allowing merchants to accept payments beyond February 29, 2024. For services like Paytm QR, where Paytm Payments Bank, acts as a back-end bank, these services will seamlessly transition to other partner bank/s. Following an update by the RBI during …

Paytm Chronicle Continues: From FAQs to RBI's Firm Stand, What We Know So Far
1 year, 1 month 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
1 year, 1 month 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 …

Paytm forms advisory panel under former SEBI chairman M Damodaran
1 year, 1 month 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 …

Paytm Shares Decline Nearly 9 Per Cent Again
1 year, 1 month ago

Paytm Shares Decline Nearly 9 Per Cent Again

ABP News  

The shares of One97 Communications Ltd, the parent firm behind the Paytm brand, witnessed another sharp decline of nearly 9 per cent on Friday, marking another tumultuous day for investors. Similarly, on the National Stock Exchange, shares of One97 Communications Ltd dropped 8.20 per cent to Rs 410. This downturn follows a 10 per cent decrease in the company's stock …

After RBI crackdown, EPFO blocks Paytm Payments Bank from February 23 | DETAILS
1 year, 1 month ago

After RBI crackdown, EPFO blocks Paytm Payments Bank from February 23 | DETAILS

India TV News  

Amidst mounting challenges, Paytm Payments Bank finds itself embroiled in yet another setback as the Employees' Provident Fund Organization has issued a directive instructing its officers to exercise caution when handling claims linked to the Paytm subsidiary. This comes after the RBI on January 31 directed the Paytm Payments Bank to stop accepting deposits or top-ups in customer accounts, wallets, …

Paytm shares resume fall for the second consecutive day
1 year, 1 month ago

Paytm shares resume fall for the second consecutive day

New Indian Express  

NEW DELHI: Shares of One97 Communications Ltd, which owns the Paytm brand, tanked over 15 per cent in two days as investors again turned to dump the stock. Extending its previous day's decline, the stock tanked 6.09 per cent to settle at Rs 419. One97 Communications stock price had climbed 10 per cent on Wednesday and rebounded over 3 per …

Paytm shares tank nearly 9 per cent; fall for 2nd day
1 year, 1 month ago

Paytm shares tank nearly 9 per cent; fall for 2nd day

New Indian Express  

Shares of One97 Communications Ltd, which owns the Paytm brand, tanked nearly 9 per cent on Friday as investors continued to dump the stock. Shares of One97 Communications Ltd fell 10 per cent to hit lower circuit limit on Thursday, after a two-day rally in the stock fizzled out. One97 Communications stock price had climbed 10 per cent on Wednesday …

Paytm Payments Bank's independent director Manju Agarwal resigns from board following RBI curbs: Sources
1 year, 1 month ago

Paytm Payments Bank's independent director Manju Agarwal resigns from board following RBI curbs: Sources

India TV News  

Paytm Payments Bank's independent director Manju Agarwal resigns from board following RBI curbs: Sources This comes amid the RBI's order, which directed the bank to cease accepting deposits or top-ups in various customer accounts and instruments after February 29. Paytm Payments Bank's independent director, Manju Agarwal, resigned from the board after an RBI order imposed restrictions on the bank's operations. …

Paytm Payments Bank's independent director Manju Agarwal resigns from board following RBI order
1 year, 1 month ago

Paytm Payments Bank's independent director Manju Agarwal resigns from board following RBI order

India TV News  

New Delhi: Paytm Payments Bank independent director Manju Agarwal has reportedly resigned from the board following an RBI order that imposed restrictions on the bank's operations. "Paytm Payments Bank independent director Manju Agarwal has resigned from the company's board after RBI order," the source said. RBI order to Paytm Payments Bank The RBI issued a directive on January 31, instructing …

RBI will deal with Paytm issue, government has nothing to do with it: Financial Services Secretary Joshi
1 year, 1 month ago

RBI will deal with Paytm issue, government has nothing to do with it: Financial Services Secretary Joshi

India TV News  

Financial Services Secretary Vivek Joshi said on Wednesday that the issue concerning Paytm is within the jurisdiction of the Reserve Bank of India, emphasising that the government's involvement is currently not warranted. He reassured that Paytm Payments Bank Ltd is a relatively small financial entity, alleviating concerns about systemic stability. Addressing concerns about financial stability due to the RBI's actions …

Paytm crisis: Vijay Shekhar Sharma knocks at Nirmala Sitharaman's door, gets curt reply
1 year, 1 month 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 …

Paytm surges nearly 8 per cent, recovers from 42 per cent loss in three sessions after RBI curbs
1 year, 1 month ago

Paytm surges nearly 8 per cent, recovers from 42 per cent loss in three sessions after RBI curbs

India TV News  

Shares of One97 Communications Ltd, the parent company of the Paytm brand, rebounded on Tuesday morning after experiencing three consecutive days of sharp declines. Over the past three days, the stock plummeted by over 42 per cent, resulting in a loss of Rs 20,471.25 crore in market valuation, following regulatory actions from the Reserve Bank of India. The RBI's recent …

Paytm's Vijay Shekhar Sharma puts up a brave face amid crisis, tells employees ‘no layoffs’
1 year, 1 month ago

Paytm's Vijay Shekhar Sharma puts up a brave face amid crisis, tells employees ‘no layoffs’

Hindustan Times  

Paytm founder Vijay Shekhar Sharma assured employees that there will be no layoffs as the company continues to struggle after the Reserve Bank of India restricted Paytm Payment Bank Ltd from offering almost all major banking services- taking deposits, FASTag, and credit transactions. Many banks are helping us,” Vijay Shekhar Sharma said during a virtual town hall with employees of …

Paytm woes worsen as traders' body advises users to switch to other payment apps after RBI crackdown
1 year, 1 month 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 …

Why Did Paytm Shares Tank Another 20% Today? Know Details of RBI's Action Against Paytm Payments Bank
1 year, 1 month 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
1 year, 1 month 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 In Talks With Major Banks For Nodal Account Migration; Expects Completion In Some Days
1 year, 1 month ago

Paytm In Talks With Major Banks For Nodal Account Migration; Expects Completion In Some Days

ABP News  

India’s leading payments and financial services distribution company Paytm is in discussion with large banks to migrate nodal accounts and comply with the regulatory norms by February 29. Vijay emphasized Paytm’s proactive approach in collaborating with banks for two years, signaling a decrease in dependency on Paytm Payments Bank. “We maintain multiple nodal accounts for various businesses that Paytm and …

Paytm rules out impact of RBI curbs on Payments Bank, says…
1 year, 1 month ago

Paytm rules out impact of RBI curbs on Payments Bank, says…

Hindustan Times  

Paytm on Thursday said the company will only work with other banks and not the Paytm Payments Bank. According to details from an investors meet in which Paytm founder and CEO Vijay Shekhar Sharma was also present, Paytm said it will work with other banks and not the Paytm Payments Bank, this a day after the Reserve Bank of India …

RBI curbs on Paytm Payments Bank not a sudden move, action taken after warnings
1 year, 1 month ago

RBI curbs on Paytm Payments Bank not a sudden move, action taken after warnings

Hindustan Times  

India’s banking regulator stunned the finance and tech industries by abruptly suspending much of digital giant Paytm’s business late Wednesday. The RBI on Wednesday ordered Paytm Payments Bank, which is 49% owned by Paytm’s parent company, to stop its popular mobile wallet business along with other activities, citing persistent non-compliance and supervisory concerns. Still, the RBI’s stance is that it …

Paytm shares: How will RBI's action on Paytm Payments Bank impact stock
1 year, 1 month ago

Paytm shares: How will RBI's action on Paytm Payments Bank impact stock

Hindustan Times  

Shares of Indian payments firm Paytm are set to open lower on Thursday, after a move by the country's financial regulator to halt business at Paytm's payments bank unit sparked fears of hits to the company's profitability and reputation. FILE PHOTO: RBI banned Paytm Payments Bank from accepting new deposits starting in March. The Reserve Bank of India on Wednesday …

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