Page 8 - Paytm Payments Bank

Paytm Payments Bank goes live with UPI LITE for small-value transactions

Paytm Payments Bank Limited has gone live with UPI LITE, a feature enabled by the National Payments Corporation of India (NPCI) for multiple small-value UPI transactions, thus empowering its users

Paytm advances 5% on report that Sunil Mittal is eyeing stake in company

Meanwhile, Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, the Bloomberg reported

Paytm's loan disbursals jump 330 per cent in December, GMV up 38 per cent

The number of loans disbursed jumped 117 per cent in December 2022 as compared to December 2021

Paytm Payments Bank appoints Surinder Chawla as MD, CEO post RBI nod

Paytm Payments Bank has received banking regulator RBI's nod to appoint Surinder Chawla as its Managing Director and CEO, the company said in a statement on Sunday. The RBI, however, continues to bar Paytm Payments Bank from on-boarding new customers. "Paytm Payments Bank Limited (PPBL) has appointed veteran banker Mr. Surinder Chawla as its new Managing Director (MD) and Chief Executive Officer (CEO). The appointment has been approved by the Reserve Bank of India for a period of three years," the statement said. Before joining PPBL, Chawla was working with RBL Bank, where he served as Head - Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels. "I am pleased to welcome Surinder to Paytm Payments Bank to drive our unwavering commitment to deepening financial inclusion and offering an exceptional mobile-first banking experience in India," PPBL Chairman Vijay Shekhar Sharma said.

Paytm Payments Bank gets RBI nod for Surinder Chawla as new MD and CEO

Chawla is a veteran banker with over 28 years of experience across institutions such as HDFC Bank, RBL Bank, ABN Amro Bank, and Standard Chartered Bank

Risk-reward favourable for Paytm; may rise more than 100% in 1 yr: Analysts

Shares of Paytm surged 8 per cent to Rs 535.45 apiece in the intra-day trade on Friday, before settling at Rs 537, up 7 per cent

Paytm users can now make UPI payments to mobiles with third-party UPI apps

Paytm Payments Bank says the move facilitates interoperability across all UPI-based payment apps, ensuring a superfast and seamless experience

Paytm and Samsung collaborate to deploy smart PoS devices across India

Digital financial services firm Paytm on Tuesday said it partnered with Samsung stores to facilitate smart payments as well as its loan service through deployment of point of sale devices

Paytm Payments Bank still to appoint firm for IT audit: MoS

The Paytm Payments Bank has not yet appointed a firm which will conduct an audit of its information technology (IT) systems, minister of state for finance Bhagwat Karad said

Top headlines: Mixing vaccines for booster, TCS' $50 bn goal, and more

Business Standard brings you the top headlines at this hour

KYC-AML rule breach led to lens on Paytm Payments Bank: Sources

Analysts expect Paytm's business to be affected owing to the ban

RBI letter to Paytm Bank does not talk about data access: Vijay Shekhar

RBI in its letter to Paytm Payments Bank has not mentioned anything about data access but has asked the company to carry out an audit from a third party, a top official of the company said on Monday.

Fully compliant with RBI data localisation directions: Paytm Payments Bank

In an interview with Reuters, Paytm CEO Vijay Shekhar Sharma said 'there is no access of any bank customer data to anyone, any investor'

Top headlines: Feb inflation rises to 6.07%; Chandra named AI chairman

Business Standard brings you the top headlines on Monday

RBI punished Paytm Payments Bank for data leaks to Chinese firms: Report

Annual inspections by RBI found that the company's servers were sharing information with China-based entities that indirectly own a stake in Paytm Payments Bank, says a source

Taking immediate steps to comply with RBI directions: Paytm Payments Bank

This is the third time that Vijay Shekhar Sharma-promoted Paytm Payments Bank (PPBL) is facing action from the banking regulator since its inception in May 2017

RBI bars Paytm Payments Bank from acquiring customers, calls for IT audit

The ban on customer acquisition shall cripple business growth for Paytm PB, which is targeting to add half a billion customers to its fold

Top headlines: RBI setback for Paytm Payments Bank; IRDAI gets a new chief

Here are the top headlines on Friday

Paytm Payments Bank issues over 450,000 FASTags in December

Paytm Payments Bank on Monday said it issued over 4.5 lakh FASTags in December 2021, registering 11.33 per cent rise as compared to the previous month. Paytm Payments Bank Ltd (PPBL) claims to have led the market in the FASTag segment with 28.2 per cent market share. The firm said it issued 4,51,463 FASTags in December 2021 as against 4,05,541 in November, cementing its leadership position in the digital toll payments in the country. "Till now, Paytm Payments Bank has issued a total of 1,24,83,038 out of 4,42,23,583 FASTags issued by all 35 banks together," a company spokesperson said. PPBL has toll collection in over 200 toll plazas across national and state highways. "Users prefer Paytm Fastag, as it's linked to the Paytm Wallet and does not require them to create any separate account. We hope to continue to leverage our technology and banking expertise to offer seamless & convenient toll payments experience," PPBL MD and CEO Satish Gupta said.

Paytm's payments revenue expected to grow 50%-60% in Q4FY22: Sharma

Paytm's revenue from payments, including merchant transfers, is expected to be at around $140 million in the current quarter with a growth of 50-60% on a year-on-year basis