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 a regulatory filing. SoftBank had a 17.5 per cent stake in Paytm in September 2022 and has been reducing its stake for over a year.

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History of this topic

Paytm shares hit 52-week high; up more than 3%
2 weeks ago

Paytm shares hit 52-week high; up more than 3%

The Hindu  

Shares of One97 Communications, which owns the Paytm brand, on Monday jumped more than 3% on the bourses after the company approved the sale of stake in Softbank group's fintech firm PayPay Corporation. Equity markets see high volatility, Sensex falls 150 points, nifty down 37 points As the company's shares touched a 52-week high, the market valuation of Paytm rose …

Paytm shares rise above Rs 1,000 today. 3 things you need to know
Trending News
2 weeks, 1 day ago

Paytm shares rise above Rs 1,000 today. 3 things you need to know

India Today  

Paytm shares rallied over 3% on Monday, hitting a 52-week high of Rs 1,007 on the Bombay Stock Exchange. Here are three key factors propelling Paytm’s stock upward: STRATEGIC SALE Paytm’s Singapore-based unit approved the sale of its Stock Acquisition Rights in Japanese payments firm PayPay to SoftBank Vision Fund 2 for JPY 41.9 billion. PAYTM'S FINANCIAL PERFORMANCE Paytm reported …

Paytm’s Singapore arm approves stake sale in Japan’s PayPay
2 weeks, 3 days ago

Paytm’s Singapore arm approves stake sale in Japan’s PayPay

Live Mint  

Paytm's parent company, One97 Communications, on Friday, December 6, 2024, approved the sale of its stake in Japan’s credit card company PayPay Corporation. One97 Communications Singapore, a wholly-owned subsidiary of Paytm's Singapore arm, ‘Paytm Singapore’, approved the sale of its stake to the Japanese digital payments company. "We wish to clarify that we have been informed by One97 Communications Singapore …

Paytm share price hits 52-week high today. What's driving the rally?
2 weeks, 4 days ago

Paytm share price hits 52-week high today. What's driving the rally?

India Today  

Shares of One 97 Communications Ltd, Paytm’s parent company, climbed over 3.5% to hit a fresh 52-week high on Friday. The stock jumped 3.60% to hit a 52-week high of Rs 990.90 on Friday. The rally followed media reports suggesting that Paytm may sell its stake in Japan's PayPay to SoftBank for $250 million. The company posted its first-ever quarterly …

Paytm has made a big new bet. Will it pay off?
3 weeks, 6 days ago

Paytm has made a big new bet. Will it pay off?

Live Mint  

Since its debut on Dalal Street three years ago, Paytm has been battling several challenges. View Full Image Source: Tijorifinance Financial services The RBI's action caused Paytm’s operating model to change significantly as lenders turned cautious. View Full Image Source: Tijorifinance During Q2 FY25, 600,000 unique consumers and merchants availed of financial services through Paytm, up from 590,000 during Q1 …

Paytm gets government nod for investment in payments arm: Details
3 months, 3 weeks ago

Paytm gets government nod for investment in payments arm: Details

India TV News  

India's Paytm has received approval from the country's finance ministry to invest in its payment services business, the fintech firm. In July, Reuters reported, citing a top finance ministry official, that Paytm had secured approval for a 500 million rupee investment in its payments arm. Paytm Payment Services is one of the biggest remaining parts of the fintech firm's business …

Paytm’s market share Continues to fall after RBI crackdown
6 months, 2 weeks ago

Paytm’s market share Continues to fall after RBI crackdown

Hindustan Times  

Paytm’s market share among India’s online payment apps, fell for a fourth straight month as the fintech pioneer struggles to recover from the Reserve Bank of India ordering its affiliate, Paytm Payments Bank to shut down, according to a Bloomberg report. Paytm Payments Bank isn’t actually controlled by Paytm, but is part of founder and CEO Vijay Shekhar Sharma’s fintech …

Paytm Stock Surges 5%; Hits Upper Circuit For Second Consecutive Day
6 months, 3 weeks ago

Paytm Stock Surges 5%; Hits Upper Circuit For Second Consecutive Day

ABP News  

Shares of One97 Communications, Paytm's parent company, surged by 5 per cent on Thursday, reaching their upper circuit limit for the second consecutive session. Nevertheless, the stock surged by 4.99 per cent, hitting its upper circuit limit of Rs 377.40 on the NSE and Rs 377.50 on the BSE. As of the end of March, Paytm founder Vijay Shekhar Sharma …

Paytm aims to cut around 20 per cent of workforce amid rising employee costs: Report
7 months 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%
7 months 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 results: Loss widens to Rs 549.60 cr, revenue falls 2.6%
7 months ago

Paytm Q4 results: Loss widens to Rs 549.60 cr, revenue falls 2.6%

Business Standard  

Digital payments firm Paytm on Wednesday reported a wider consolidated loss of Rs 549.6 crore in the fourth quarter of 2023-24, compared to Rs 168.4 crore in the same quarter last year. Net income declined by 2.6 per cent year-on-year to Rs 2,398.8 crore in Q4FY24 compared to Rs 2,464.6 crore in Q4FY23. Overall revenue for the entire FY24 rose …

Paytm share price falls nearly 3% after payments bank chief quits
8 months, 1 week ago

Paytm share price falls nearly 3% after payments bank chief quits

Hindustan Times  

Paytm share price: Shares of Paytm fell nearly 3 per cent today after Surinder Chawla stepped down as the Paytm Payments Bank managing director and chief executive. Paytm share price: A QR code for the Paytm digital payment system at a store in Mumbai, India. More on Paytm crisis The Reserve Bank of India imposed business restrictions on PPBL which …

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 jumps 5% as digital payments app survives banking unit shutdown
9 months, 1 week 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 share price up 5% after NPCI grants third-party app license: Will it recover?
9 months, 1 week ago

Paytm share price up 5% after NPCI grants third-party app license: Will it recover?

Hindustan Times  

Paytm Share Price today: Shares of India's Paytm rose 5%, a day after National Payments Corporation of India granted approval to Paytm's parent company One97 Communications Limited to participate in UPI services as a Third-Party Application Provider. Paytm share price today: A QR code for the Paytm digital payment system at a store in Mumbai. Paytm's stock has been hitting …

Paytm share price drops 5% ahead of Payments Bank deadline: Will fall continue?
9 months, 1 week ago

Paytm share price drops 5% ahead of Payments Bank deadline: Will fall continue?

Hindustan Times  

Paytm share price: Shares of Paytm's parent company One97 Communications Ltd tanked 5 per cent, third lower circuit in as three days. This would allow customers to continue using the Paytm app for payments through unified payment interface and would help the company as Paytm Payments Bank ceases operations by March 15. Economic Times reported that four banks- Axis Bank, …

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's Vijay Shekhar Sharma on RBI action: ‘In my lifetime, I would like…’
9 months, 2 weeks ago

Paytm's Vijay Shekhar Sharma on RBI action: ‘In my lifetime, I would like…’

Hindustan Times  

Paytm founder Vijay Shekhar Sharma said that he was confident that his company will overcome regulatory setbacks in India this year and stage a comeback. Vijay Shekhar Sharma, founder and chairman of One97 Communications Ltd., operator of Paytm, attends the Japan Fintech Festival in Tokyo, Japan. He asserted, “And it is important for you, yourself to be taking care of …

Financial Intelligence Unit Imposes Rs 5.49-Crore Fine On Paytm Payments Bank For Violating PMLA Norms
9 months, 3 weeks ago

Financial Intelligence Unit Imposes Rs 5.49-Crore Fine On Paytm Payments Bank For Violating PMLA Norms

ABP News  

In a latest development, the Financial Intelligence Unit-India on Friday took a decisive action against Paytm Payments Bank Ltd for violations under the Prevention of Money Laundering Act, 2002. The investigation into Paytm Payments Bank Ltd was initiated by FIU-IND following specific intelligence received from law enforcement agencies regarding illicit activities conducted by certain entities. These activities included facilitating online …

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 …

Paytm Shares Rise Over 2% As CEO Vijay Shekhar Sharma Steps Down Amidst Regulatory Scrutiny
9 months, 3 weeks ago

Paytm Shares Rise Over 2% As CEO Vijay Shekhar Sharma Steps Down Amidst Regulatory Scrutiny

ABP News  

Shares of Paytm saw a modest gain of over 2 per cent on the BSE on Tuesday, following the announcement of significant developments within the company. Vijay Shekhar Sharma, the founder and CEO of Paytm, on Monday evening took a pivotal step by resigning from his position to assist in the restructuring of the Board of Paytm Payments Bank Ltd. …

Why did Vijay Shekhar Sharma have to resign as Paytm Payments Bank chairman?
9 months, 3 weeks 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
9 months, 3 weeks 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 …

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 …

Paytm Payments Bank Chairman Vijay Shekhar Sharma quits
9 months, 4 weeks 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 …

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 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 …

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 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 …

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 …

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 Shares Tank 9% After Macquarie Slashes Target Price By 57%; Know Target Price
10 months, 1 week ago

Paytm Shares Tank 9% After Macquarie Slashes Target Price By 57%; Know Target Price

News 18  

Shares of One97 Communications Limited, the parent company of digital payments firm Paytm, dipped sharply in early trade to hit a record low on Tuesday. The shares today fell up to 8.7 per cent to the day’s low at Rs 385.75 on BSE after global broking firm Macquarie downgraded the troubled fintech to underperform from the neutral call with a …

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 …

Explained: Why Paytm shares fell 8.5% to hit record low today
10 months, 1 week ago

Explained: Why Paytm shares fell 8.5% to hit record low today

India Today  

Shares of One97 Communications Limited, the parent company of digital payments firm Paytm, dipped sharply in early trade to hit a record low on Tuesday. Paytm shares fell 8.5 per cent to Rs 386.25 apiece in early trade, but recovered marginally to trade at Rs 395.85 at around 9:57 am. The embattled digital payments firm’s shares have been under pressure …

Explained: Why Macquarie's downgrade spooked Paytm investors
10 months, 1 week ago

Explained: Why Macquarie's downgrade spooked Paytm investors

India Today  

Shares of digital payments firm Paytm hit a record low of Rs 380.05 in the afternoon trading session after falling nearly 10 per cent. But why has the brokerage firm’s fresh report and downgrade spooked Paytm investors? ‘Arduous’ migration hurdle The brokerage firm in its report said migrating to other third party banks from Paytm Payments Bank could be a …

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 …

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 …

After RBI crackdown, EPFO blocks Paytm Payments Bank from February 23 | DETAILS
10 months, 2 weeks 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 share price hits 10% lower circuit after a two-day recovery
10 months, 2 weeks ago

Paytm share price hits 10% lower circuit after a two-day recovery

Live Mint  

The stock price of One97 Communications, the parent company of Paytm, experienced a significant drop in today's trading session after recovering slightly from heavy losses in the past two trading days. Despite Sharma's efforts, reports suggest that the central bank declined to offer any concessions to Paytm Payments Bank, such as allowing the migration of accounts to other banks or …

Paytm Payments Bank's independent director Manju Agarwal resigns from board following RBI order
10 months, 2 weeks 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
10 months, 2 weeks 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
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 …

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