One 97 Communications

Paytm gets govt approval for downstream investment in payments arm PPSL

Fintech firm One97 Communications -- the owner of Paytm brand -- has received the government's approval for downstream investment in wholly owned subsidiary Paytm Payments Services Ltd, a regulatory filing said on Wednesday. The company will reapply for a payment aggregator (PA) licence, it said. "We would like to inform you that PPSL has received approval from the Government of India, Ministry of Finance, Department of Financial Services, vide its letter dated August 27, 2024, for downstream investment from the Company into PPSL. With this approval in place, PPSL will proceed to resubmit its PA application. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners," Paytm filing said. The Reserve Bank of India (RBI) had rejected Paytm's PA licence permit application in November 2022 and instructed the company to reapply with Press Note 3 compliance under foreign direct investment norms. As per Press Note 3, the government had made its

Paytm launches NFC card soundbox with integrated card payment system

Paytm NFC card soundbox will allow small shops to accept a range of payments, including credit and debit cards as well as UPI

Paytm shares hit upper circuit on govt nod for investment in payments arm

The stock price surged on the back of reports claiming that the company had received the government nod to invest Rs 50 crore in its associate entity Paytm Payments Services Limited (PPSL)

Paytm likely gets FDI nod for investment arm; share hits 10% upper circuit

The uptick in the share price came after reports indicated that the Government has approved Paytm's FDI proposal for payment aggregator business.

Paytm in talks with Zomato to sell its movie & event ticketing business

The discussions between Paytm, officially known as One97 Communications Ltd., and online food delivery firm Zomato are in advanced stages

Paytm's UPI market share continues to slide down after RBI crackdown

Paytm accounted for 8.1% of total UPI transactions in May, down from 13% in January, according to data released by the National Payments Corporation of India

Paytm drops 3% after Q4 loss broadens; check trading strategy here

The decline followed the company's announcement of its Q4 results, which fell short of market expectations. Paytm's loss widened to Rs 549.6 crore in Q4FY24

Paytm Q4 FY24 results: Loss widens to Rs 550 crore, warns of job cuts

Paytm Q4 FY 24 results: Shares of Paytm were trading at Rs 349 at 9:35 am on the BSE following the release of the company's quarter earnings report

Paytm to focus on UPI Lite Wallet after RBI's crackdown on payments bank

UPI Lite processes low-value transactions that have been set at below Rs 500, according to the National Payments Corporation of India (NPCI) website

Stocks to watch on May 10: Mahanagar Gas, Brigade Ent, Paytm, Adani, LIC

Stocks to watch on May 10, 2024: Paytm has denied media reports about its lending partners invoking loan guarantees due to repayment defaults

Bhavesh Gupta 3rd in senior role at Paytm to resign, more may put in papers

Gupta's resignation comes just as the firm is set to announce its annual and fourth quarterly results. Gupta resigned from his position at the company citing personal reasons

Paytm denies deferral of approval or fine on payments services arm

The company added that investor Ant Financial did not have any board representation or special rights

Paytm PB MD & CEO Surinder Chawla resigns due to personal reasons

Chawla was appointed as managing director and CEO of Paytm Payments Bank in January 2023 after it received a nod from RBI

Paytm employees stare at 'voluntary resignations', firm denies layoff buzz

Paytm said the company is undergoing a routine appraisal process involving performance assessments which may lead to 'role adjustments'

Bear Hammering: Paytm, Adani Power among 1,010 stocks at lower circuit

As many as 1,010 stocks were locked at their respective lower circuit on the BSE in late noon deals on Wednesday amid the broader market sell-off.

Paytm discontinues inter-company agreements with its payments bank

Paytm, formally known as One 97 Communications, did not specify what agreements were being terminated

SoftBank arm SVF India pares 2.17% stake in One 97 Communications

SoftBank arm SVF India Holdings has trimmed its holding in One 97 Communications by 2.17 per cent through the sale of 13.7 million shares in the open market over the past almost one month, according to a statutory filing on Thursday. With this, SoftBank affiliate SVF India Holdings (Cayman) has now a 2.83 per cent stake in the fintech company. "SVF India Holdings (Cayman) Ltd has disposed of an aggregate of 13,784,787 equity shares of One 97 Communications Ltd in a series of disposals undertaken between January 23, 2024, and February 26, 2024, with the disposal on February 26, 2024, beaching the 2 per cent threshold specified in...SEBI Takeover Regulation," One 97 Communications, which own the digital payment app Paytm, said in a BSE filing. It mentioned "open market" as a mode of sale. Japan's SoftBank has been paring its holding in the company over the past quarters. Notably, the latest sale comes at a time when One 97 Communications' associate entity Paytm Payments Bank Limited

Yet to delve deep to identify issue with firm: Paytm's advisory panel chief

An advisory committee, set up by Paytm owner One97 Communications after the Reserve Bank's action on its payments bank business, is yet to have a deeper engagement with the company to identify any issue, head of the panel and former chairman of Sebi M Damodaran said on Sunday. "We are an external advisor. At this point they (Paytm) are dealing with RBI," Damodaran said in response to a question on the impact on Paytm with regard to RBI's January 31 order on Paytm Payments Banks Limited (PPBL). As per the January 31 order, the RBI asked PPBL to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29. Later, the central bank extended the deadline till March 15. Paytm on February 9 announced setting up of a group advisory committee headed by Damodaran. The committee was set up to advise the company on strengthening compliance and on regulatory matters. When asked about

Paytm Payments Bank, RBI controversy: How will it impact the customers

The company, part of One97 Communications, is a leader in Indian fintech and faces challenges of regulatory scrutiny and customer uncertainity

Ant Financial's stake value declines to Rs 2,742 crore on Paytm woes

The Chinese company, however, had sold its stake worth Rs 8,293 crore in three tranches over the one year thus saving a major part of its portfolio from the meltdown