Page 18 - Paytm

Jio Financial market cap crosses Rs 2 trillion; surges 20% in one week

Shares of Jio Financial hit a record high of Rs 325 in intra-day deals on Friday backed by near two-fold jump in trading volumes on the BSE.

What makes Indian fintech fast and furious, but also a little fraudulent?

Know-your-customer, or KYC, regulations aren't easy anywhere. But fintech adoption in India has done more than just open the floodgates to financial inclusion

Indian banks' rush for clients set for reckoning after Paytm fiasco

India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank

Mutual funds continued to buy Paytm in January, with a few exceptions

In terms of share count, Nippon Mutual Fund, Mirae Mutual Fund, and Motilal Oswal Mutual Fund rank as the top three, holding the largest number of Paytm shares in their portfolios as of January 2024

Stocks to Watch today: Zee, Hindalco, RIL, Tata Power, Paytm, TVS Supply

Stocks to watch on Wednesday, February 21, 2024: In news today - Sebi finds Rs 2,000 cr fund diversion in Zee; Hindalco arm files IPO papers in US; Rolls Royce extends pact with TVS Supply Chain.

Paytm users may take up to 6 months to shift to other service providers

Fintech giant is planning to apply for third-party application provider licence

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 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

Paytm fiasco: FM Sitharaman to meet heads of fintech firms next week

Amid the ongoing problem faced by leading fintech player Paytm, Finance Minister Nirmala Sitharaman has decided to meet heads of financial technology companies next week to persuade them to strictly follow regulatory norms. Paytm Payments Bank Ltd, an entity promoted by One97 Communications Ltd, faced regulatory actions by the Reserve Bank for failure to comply with host of regulatory norms, including Know Your Customer (KYC) guidelines. According to sources, Sitharaman will be meeting CEOs of fintech companies next week to hear their concerns and problems. However, sources said, she will impress upon them the need to abide by regulatory norms as they are dealing with money of individuals. The meeting is expected to see participation from senior officials of Reserve Bank, finance ministry, Department for Promotion of Industry and Internal Trade, among others. Last week, the RBI advised customers as well as merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to othe

Best of BS Opinion: Global threats, federalism for development & more

Here is the best of Business Standard's opinion pieces for today

Fire in the dream factory

Boards at startups need to be made more accountable

Jefferies suspends Paytm coverage amid uncertainty; shares jump 5%

Shares of Paytm gain for the second straight session

Rules apply to firms of all sizes: MoS IT on RBI move on Paytm PB

Says have received two proposals for semiconductor fab units, entailing $22 bn investment

Nifty hits fresh high, Sensex ends 282 pts higher; consumer durables rally

Stock market highlights on February 19, 2024: Nifty index leaps to a new lifetime high of 22,187 after crossing previous high of February 2, 2024

ED has not yet found forex breaches at Paytm Payments Bank: Report

Last week, India's Enforcement Directorate announced the investigation into overseas transactions by Paytm Payments Bank, a unit of One 97 Communications, popularly known as Paytm

Jefferies Financial stops coverage on Paytm until regulatory issues ease

Paytm has seen its shares lose more than half of their value since the banking regulator's surprise clampdown amid concerns over the continuity of its business model

Paytm Payments Bank crisis: How to deactivate Paytm FASTag and buy new one

In the recently released FAQs, the RBI suggested users procure a new FASTag issued by a bank other than Paytm Payments Bank before March 15

Stocks to Watch today: Airtel, Paytm, LIC, Bajaj Auto, Adani Group, HDFC Bk

Stocks to watch on Monday, February 19, 2024: Shares of Adani group are likely to be in focus as the group is said to be in advanced talks to raise up to $2.6 billion from sovereign funds.

Paytm shifts nodal account to Axis Bank for seamless transactions

Paytm QR, soundbox, card machine will continue to work as always, said One97 Communications

Paytm shifts nodal account to Axis Bank from Paytm Payments Bank

Fintech firm One97 Communications -- owner of the brand Paytm -- has shifted its nodal account to Axis Bank from Paytm Payments Bank. The move will allow continuity of Paytm QR, Soundbox, card machine after the March 15 set by the Reserve Bank of India, as per a regulatory filing. The RBI has advised customers and merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15, giving 15 more days to the beleaguered entity to close most of its operations, including deposit and credit transactions. "The company has also shifted its nodal account to Axis Bank (by opening an escrow account) to continue seamless merchant settlements as before. "This arrangement is expected to seamlessly replace the nodal account that OCL was using with Paytm Payments Bank. Paytm Payment Services Ltd (PPSL), OCL's wholly owned subsidiary has already been using the Axis Bank services, since its inception," Paytm said in a filing. The nodal account of Paytm is like a master