Page 18 - Paytm

Paytm's third-party application licence likely to get approval this week

UPI, operated by the NPCI, is India's real-time payments system that allows users to transfer money across banks

Paytm Payments Bank: Services you can or can't use after March 15

As RBI deadline nears, take a look at the list of services that you can use on Paytm after March 15 and alternatives available to users

Processing UPI transactions: Paytm's TPAP request awaits bank tie-ups

Need to comply with security, data localisation norms

Google, Walmart gain fintech users from India as Paytm faces restrictions

Paytm's decline suggests consumers are moving usage to alternative services even before any disruption to its systems

85% of Paytm wallet users unaffected, rest to link apps to banks: RBI Guv

As many as 80-85 per cent Paytm wallet users will not face any disruption because of regulatory actions, and the remaining users have been advised to link their apps to other banks, RBI Governor Shaktikanta Das said on Wednesday. The Reserve Bank of India on January 31 barred Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts. The deadline for linking the wallet attached with PPBL with other banks has been fixed for March 15, the governor said, ruling out any further extension. The time given up to March 15 is sufficient and there is no need for further extension, he said, adding that 80-85 per cent Paytm wallets are linked to other banks, and the remaining 15 per cent have been advised to move on to other banks. He said that the RBI has taken action against a regulated entity, which in this case is PPBL and has nothing against Fintech companies. Instead, Das stressed that the RBI favours innovation in the financial ...

Paytm's UPI transactions drop in February amid regulatory challenges

Overall UPI volumes of Paytm witnessed a marginal dip to 12.1 billion transactions compared to 12.2 billion transactions in January

Paytm PB failed to use mechanism for detecting suspicious transactions: FIU

Paytm Payments Bank failed to put in place an internal mechanism to "detect and report" suspicious transactions as stipulated under the anti-money laundering law and was unsuccessful in conducting due diligence of its payout service, the FIU said in its order that imposed a fine of Rs 5.49 crore on the digital entity. The federal financial intelligence gathering and dissemination agency said in its March 1 order that these charges against the bank, a registered reporting entity with the FIU under the PMLA, were "substantiated" after more than four years of investigation and a show cause notice that was issued against it on February 14, 2022. After the Union finance ministry issued a press statement on the FIU action, a Paytm Payments Bank spokesperson had said that the penalty pertains to issues within a business segment that was discontinued two years ago. "Following that period, we have enhanced our monitoring systems and reporting mechanisms to the Financial Intelligence Unit ...

Paytm will overcome regulatory setbacks, says Vijay Shekhar Sharma

Despite the setbacks, Sharma said he values the role regulators play in creating a healthy environment for startups in India

Paytm sheds nearly 4% as FIU slaps Rs 5.5 crore penalty on Payments Bank

The penalty was slapped in connection with alleged violations under the Prevention of Money Laundering Act (PMLA), read with PML rules

FIU imposes Rs 5.49 cr penalty on Paytm PB for money laundering violations

Financial Intelligence Unit-India (FIU-IND) has imposed a Rs 5.49 crore penalty on Paytm Payments Bank for violating anti-money laundering rules, the Finance Ministry said on Friday. FIU-IND initiated a review of Paytm Payments Bank on receipt of specific information from law enforcement agencies in respect of few entities and their network of businesses engaged in a number of illegal acts, including organising and facilitating online gambling. The money generated from these illegal operations, i.e. proceeds of crime were routed and channelled through bank accounts maintained by these entities with the Paytm Payments Bank Ltd, the ministry said. "The Financial Intelligence Unit-India (FIU-IND),... has imposed a monetary penalty of Rs 5.49 crore on Paytm Payments Bank Ltd with reference to the violations of its obligations under the PMLA (Prevention of Money Laundering Act)," the ministry said. The FIU passed its order imposing the penalty on February 15. The FIU action follows RBI

Paytm discontinues inter-company ties with payments bank amid RBI scrutiny

Paytm founder Vijay Shekhar Sharma owns 51 per cent of Paytm Payments Bank, while the remaining 49 per cent is owned by One97 Communications Ltd (OCL)

Paytm discontinues inter-company agreements with its payments bank

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

Stocks to watch: Paytm, Tata Group, Airtel, Biocon, Suven, Vedanta, L&T

Stocks to watch on March 1, 2024: L&T has commissioned its first hydrogen electrolyser at the green hydrogen plant at Hazira, Gujarat

SoftBank Group sells another 2% stake in crisis-hit Paytm to under 3%

The Japanese conglomerate held a 17.5% stake in Paytm in September 2022. Since then, it has trimmed its ownership through multiple open market deals

Zee, Paytm top Nifty 500 losers so far in 2024; will the fall continue?

As many as 10 stocks within the Nifty 500 space have declined over 20 per cent so far in 2024. These are the key levels to watch out, suggest charts.

Best of BS Opinion: Responsible innovation, Indonesia & Pakistan & more

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

Responsible innovation

Govt intervention should address the concerns of fintechs

Sensex snaps 2-day losing run, gains 305 pts; broader indices in red

Stock market highlights on Tuesday, February 27: The Nifty50 shut shop 76 points higher at 22,198

Paytm exhibits volatility day after Vijay Shekhar Sharma exits PPBL board

Vijay Shekhar Sharma on Monday stepped down as part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL).

Stocks to watch: Paytm, Voda Idea, CMS Info, Canara Bank, Andhra Cements

Stocks to watch on February 27, 2024: Vodafone Idea is likely to raise equity from new investors, diluting the stakes of existing shareholders when its board meets today