Page 3 - One97 Communications

Paytm gains 5% as RBI asks NPCI to become third-party application provider

The RBI has asked the National Payments Corporation of India (NPCI) to look into the possibility of migrating Paytm Payments Bank customers, using the UPI handle '@paytm', to four-to-five other banks

Paytm doubling down on banking partnerships to streamline business

The company is moving swiftly to finalise these partnerships after the Reserve Bank of India (RBI) extended the deadline for restrictions on deposit and credit transactions of Paytm PB to March 15

Paytm secures merchant support, guarantees uninterrupted services

Fintech firm One97 Communications, which owns the Paytm brand, has received support from merchants, and it assured them of continuity of services without any disruption, the company said in a blog on Sunday. The blog post came amid the recent crisis around Paytm Payments Bank Limited (PPBL), an associate company of Paytm, which has been barred by the RBI from accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29. Withdrawal or utilisation of balances by its customers from their accounts, including savings bank accounts, current accounts, prepaid instruments, FASTags, and National Common Mobility Cards, are to be permitted without any restrictions up to their available balance. "We assure our users and merchant partners that the Paytm app and services continue to operate at full capacity. In instances, where our associate Paytm Payments Bank acts as a back-end bank, we can seamlessly transition these services to other partner ...

Paytm readies three-member group advisory committee; RFP for auditors

Committee to be headed by former Sebi chief Damodaran

Central Depository Services India to inspect Paytm Money's KYC process

Central Depository Services India (CDSL) may initiate inspection into Paytm Money's customer verification protocols following RBI's directives and regulatory actions against Paytm Payments Bank

Stocks to Watch today, Feb 6:Paytm, BLS E-Services, Adani Power, ZEE, Nykaa

Stocks to Watch on Tuesday, February 6, 2024: Paytm has denied reports about investigation or violation of foreign exchange rules

Stocks to Watch today, Feb 5: Paytm, SBI, TaMo, IndiGo, ZEE, Airtel, VBL

Stocks to Watch on Monday, February 5, 2024: Stock exchanges have revised the circuit limits for Paytm to 10 per cent from 20 per cent

Morgan Stanley buys Paytm shares worth Rs 244 cr via open mkt transaction

Financial services major Morgan Stanley on Friday bought shares of Paytm's parent company One97 Communications for Rs 244 crore through an open market transaction. Morgan Stanley through its affiliate Morgan Stanley Asia (Singapore) Pte - ODI picked up shares of Noida-based Paytm's parent firm One97 Communications on the National Stock Exchange (NSE). According to the bulk deal data on the NSE, Morgan Stanley Asia (Singapore) Pte purchased 50 lakh shares, amounting to a 0.8 per cent stake in Paytm. The shares were acquired at an average price of Rs 487.20 apiece, taking the deal size to Rs 243.60 crore. Details of the sellers could not be ascertained. Shares of One97 Communications Ltd, which owns Paytm brand, slumped another 20 per cent on Friday, as the RBI has directed Paytm Payments Bank Ltd (PPBL) to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. One97 Communications Ltd (OCL) holds a 49 per cent stake i

Paytm hits lower circuit, shares down 20% after RBI's restrictions

Paytm expects an impact on its annual Ebitda (earnings before interest, taxes, depreciation and amortisation) in the range of Rs 300 to Rs 500 crore

Paytm dips 20% post RBI move; brokerages see more downside going ahead

The RBI has restricted PPBL from taking fresh deposits and credit transactions across its services due to non-compliance of regulations and supervisory concerns

Fintech major Paytm plans AI-powered systems to improve business operations

Company expects its postpaid loan disbursal to further shrink in the next two quarters

Paytm trims losses to Rs 221.7 crore, revenue from operations zooms 38%

Paytm's expenses have increased 9.5 per cent Q-o-Q to Rs 3,216.3 crore in Q3FY24 from Rs 2,936.7 crore in Q2FY24. On a Y-o-Y basis, expenses rose 27.5 per cent from Rs 2,522.3 crore

Paytm to invest Rs 100 cr in GIFT City to build global payments system

Service will 'reduce friction' in cross-border remittances, says fintech company ahead of Vibrant Gujarat summit

Paytm hits over 8-month low; stock tanks 38% from its 52-wk high of October

The stock of the fintech firm has remained under pressure since it announced it will scale down small-ticket size loans, especially, those below Rs 50,000

Paytm subsidiary inks pact with Startup Bihar to offer banking solutions

One97 Communications, which owns the Paytm brand, on Friday announced that its wholly-owned subsidiary Paytm Payment Services Limited (PPSL) has signed a pact with Startup Bihar to promote the state's startup ecosystem. Under the memorandum of understanding (MoU), PPSL will help startups grow their businesses with the Paytm Startup Toolkit, which offers solutions in payments, payouts, banking, and distribution. Paytm Startup Toolkit will aid, simplify, and accelerate business ventures of youth in their early stages of growth, One97 Communications Limited said in a release. Additionally, the Paytm Incubation Centre will empower early-stage startups in their journey. It will help young entrepreneurs gain new user acquisitions, access funds, and access more facilities. Startup Bihar is the state government's ambitious initiative to promote startups. Since its inception in 2016, it has fostered a startup and innovation ecosystem in Bihar on a large scale. The Bihar Startup Policy 2022

Near-term sales growth, profitability on fintech giant Paytm's horizon

Revenue was at Rs 2,518.6 crore and payment processing charges were up 6.5 per cent q-o-q and were 54.4 per cent of payments services revenue

PPBL 'at farm' length from One97 Communications, says Paytm CEO Sharma

Paytm Payments Bank Ltd and One97 Communications Ltd (OCL) 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 (PPBL) 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 Payments Bank Limited and Paytm, which is OCL, are two very different companies not just at arm's length, I call it farm length now. The approach here is of a completely clear understanding that whatever Paytm Bank does is for its good and for their business plan," Sharma said. PPBL is a group company of Paytm in which it holds a 49 per cent stake. However, Paytm books show PPBL as an associate of the company and not as a subsidiary. Sharma said Paytm acquires consumers for various consu

Operating performance update points to healthy outlook for Paytm stock

By end-August the company had 8.7 million devices deployed, almost doubling from 4.5 million devices in August 2022

One97 Communications shares jump nearly 7% as Sharma buys Paytm stake

Shares of fintech firm One97 Communications jumped nearly 7 per cent on Monday, following news that its founder and CEO Vijay Shekhar Sharma will acquire 10.30 per cent stake in Paytm from Antfin (Netherlands) Holding BV, through an off-market transfer in a no-cash deal. The stock of Paytm's parent firm climbed 6.95 per cent to settle at Rs 850.75 apiece on the BSE. During the day, it zoomed 11.57 per cent to Rs 887.55. On the NSE, it rallied 6.82 per cent to end at Rs 851 per share. During the day, it jumped 11.43 per cent to Rs 887.70. The company's market valuation advanced Rs 3,511.4 crore to Rs 53,957.14 crore. Antfin will continue to hold the economic rights of the stake that is being transferred to Sharma. As per the deal, Sharma will purchase 10.30 per cent shareholding in Paytm from Antfin through his 100 per cent owned overseas entity -- Resilient Asset Management BV. Resilient Asset in return will issue debt instrument OCDs (optionally convertible debentures) to ...

Vijay Shekhar Sharma to buy a 10.3% stake in Paytm from Antfin for $628 mn

After the transaction, Sharma's stake in the company will rise to 19.42%, and Antfin will cease to be the largest shareholder of Paytm