Page 19 - Paytm

RBI extends Paytm Payments Bank restriction deadline to March 15

The earlier deadline was Feb 29

Paytm hits 5% upper limit after registering new low; stock down 58% in Feb

Till 01:42 pm; a combined 20.95 million shares changed hands and there were pending buy orders for a combined 1.34 million shares on the NSE and BSE.

ED questions Paytm officials, gets documents following RBI's decision

The Enforcement Directorate has questioned senior Paytm executives and taken submission of documents from them following the recent RBI action of barring Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, official sources said Thursday. The central agency, according to the sources, is conducting preliminary examination of documents before it decides to launch a formal investigation into the RBI-flagged alleged irregularities at the fintech company under the Foreign Exchange Management Act (FEMA). Some documents have been recently submitted by Paytm executives following which they were asked certain questions. Some more information has been sought, the sources said. As of now, no irregularities have been detected and a case under FEMA will only be registered once any contravention under the said law is found, they added. An investigation under the Prevention of Money Laundering Act (PMLA) involving Paytm is already going on for some time, they ...

Stocks to Watch today: RIL, Paytm, Vedanta, Coal India, Glenmark, NMDC

Stocks to watch on Thursday, February 15, 2024: In news today - Reliance eyes stake in Tata Play, Vedanta parent mulls stake sale to GQG Partners and ED launches probe in Paytm.

ED starts preliminary probe into Paytm Payments Bank after RBI's decision

That comes two weeks after the country's central bank ordered Paytm's banking affiliate to wind down

Best of BS Opinion: China's geo-economic pivot, Reprieve in Qatar & more

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

Paytm's tentative timeline to restart loan sanctioning ends on Feb 14

The tentative timeline shared by fintech firm Paytm to resolve operational challenges coming in the way of its lending business and restart sanctioning of new loans is ending on February 14. One97 Communications President and Chief Operating Officer Bhavesh Gupta in a company conference call on February 1 had said that the company will not be issuing new loans for "maybe a couple of weeks" before resolving operational challenges posed due to RBI restriction Paytm Payments Bank Limited (PPBL). The central bank, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. While the lending business of Paytm is not linked with PPBL, there are around 10-15 per cent of Paytm merchants, which are around 60,000-70,000 merchants, who are estimated to have autopay mandate set up through their PPBL account. Paytm needs to migrate repayments linked to PPBL to other banks to avoid disruption in repayments.

Paytm hiring for various positions across products, business divisions

Paytm, whose payments bank venture is facing regulatory action, is hiring for various positions across product and business divisions, according to a blog. The blog posted on Paytm's website said recruitment partners are continuing to see high interest from top talents in the country to join the company. Page Group, a recruitment partner of Paytm, said the company is currently hiring for product and business positions. "We have been recruiting high calibre and premium talent for the Paytm business for a while now, and expect the trend to continue. We are actively seeking individuals for product and business positions at Paytm, and there continues to be strong interest from quality candidates for these roles," PageGroup MD Ankit Agarwala said in the blog. The company is going through a crisis situation due to restrictions imposed by the Reserve Bank of India on its associate entity Paytm Payments Bank Limited (PPBL), which houses wallet and UPI services that are provided through the

Paytm hits new low, falls 10% after Macquarie slashes target to Rs 275

Macquarie sharply cut the target price to Rs 275 from Rs 650, driven by a reduction in revenues across various segments

A moment of reflection for startup founders

If there's one lesson fintech stars can draw from Paytm's regulatory challenges, it's not to take their stardom for granted

Paytm crisis: Non-bank lenders explore options for loan disbursal

While non-bank lenders have not terminated their contracts with Paytm, sources said that they have no visibility as to when they might be able to resume lending through the Paytm app

Stocks to Watch today: GMR Airports, IRCTC, Paytm, HEG, Lemon Tree, PSUs

Stocks to watch on Tuesday, February 13, 2024: IRCTC, BHEL, Hindalco, National Aluminium, Siemens and Zee Entertainment are few of the prominent companies scheduled to announce Q3 results today.

Paytm Bank's independent director resigned due to personal reason: Paytm

Paytm Payments Bank Ltd independent director Manju Agarwal resigned from the board due to personal reasons, Paytm said in a regulatory filing on Monday. Agarwal resigned from PPBL a day after RBI issued an order to Paytm Payments Bank to stop accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29. "Paytm Payments Bank Ltd (PPBL), has informed us that Ms. Manju Agarwal, Independent Director resigned from the Board of PPBL on February 01, 2024, due to her personal commitments which were noted by PPBL Board on February 06, 2024," Paytm informed stock exchange in response to the clarification sought by the bourses. Paytm Payments Bank Limited (PPBL) is an associate of One97 Communications Limited (OCL). One97 Communications holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL. Vijay Shekhar Sharma has a 51 per cent stake in the bank. Paytm Payments Bank independent director Shinjini Kumar has

No review of action on Paytm Payments Bank: RBI governor Shaktikanta Das

Says the decision was made after a thorough evaluation of its operations

Paytm PB aftershocks: Fintechs step up customer outreach with target ads

While Paytm remains the leading player in the PoS segment, competition is heating up

Paytm fiasco: Merchants must onboard alternative provider for UPI payments

Long-term, fundamentals-oriented investors should stay away from its stock for now

Can work with Paytm if RBI permits: Axis Bank CEO Amitabh Chaudhry

Paytm is an important player in the fintech industry, Amitabh Chaudhry, MD and CEO of Axis Bank, said

Govt nod for OCL investment in Paytm Payment Services awaited, says Paytm

Fintech firm One97 Communications Ltd (OCL) on Monday said it has not received government approval for a downstream investment in payment aggregator subsidiary Paytm Payment Services Ltd. In November 2020, PPSL applied for a licence with the Reserve Bank of India (RBI) to operate as a payment aggregator under the guidelines on Regulation of Payment Aggregators and Payment Gateways. However, in November 2022, RBI rejected PPSL's application and asked the company to resubmit it, so as to comply with Press Note 3 under FDI rules. "As part of the Application, PPSL had also applied to the Government of India for approval of downstream investment made by the Company in PPSL, which is currently awaited. We will update the stock exchanges as and when approval is received. Meanwhile, PPSL continues to serve its existing online merchant partners," Paytm said in a regulatory filing. The banking regulator asked the firm in November 2022 to re-submit applications within 120 days after it gets .

RBI Guv rules out possibility of review in action taken against Paytm PB

Reserve Bank of India Governor Shaktikanta Das on Monday said there was "hardly any room" to review the action taken against Paytm Payments Bank. In a major action against Paytm Payments Bank (PPBL), RBI, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after February 29. Talking to reporters in the national capital on Monday, Das said there was "hardly any room" to review the action taken against Paytm Payments Bank. He also said that RBI takes action against regulated entities only after a comprehensive assessment. While emphasising that RBI is supportive of the fintech sector, Das said it is also committed to protect the interest of customers as well as ensure financial stability. The central bank is expected to soon issue a set of FAQs (Frequently Asked Questions) on the Paytm matter.

RBI to issue FAQs on Paytm Payment Bank to address customers' concerns

To address various issues of customers of beleaguered Paytm Payments Bank Ltd (PPBL), the Reserve Bank will issue a set of FAQs (Frequently Asked Questions) this week. "Wait for FAQ that will have a set of clarifications related to customers of PPBL as our priority is customers should not be inconvenienced. Customer interest and depositors interest is uppermost for us," RBI Governor Shaktikanta Das said after the Finance Minister's customary address to the central bank's board. In a major action against Paytm Payments Bank (PPBL), RBI, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. Asked if the deadline of February 29 would be extended, Das said, Wait for the FAQ. "Don't expect review of RBI's decision in FAQ. FAQ will address issues related with depositors, customers, wallet users, FASTag holders. Whatever is in the customers' interest that we are dealing in FAQ," he said. Earlie