Page 20 - Paytm

It is for RBI to deal with Paytm issue, says Financial Services Secy Joshi

Financial Services Secretary Vivek Joshi on Wednesday said it is for the Reserve Bank to deal with the Paytm issue and the government has nothing to do with the matter for now. He also said that Paytm Payments Bank Ltd (PPBL) is a small financial entity and there are no systemic stability concerns. Amid concerns over non-compliance, Reserve Bank of India (RBI) has taken various measures against PPBL wherein it will not be allowed to offer any services concerning deposits, prepaid instruments and e-wallet after February 29. The entity has also been directed to stop onboarding new customers. "It is action taken by the regulator. They regulate the banks. The government has had nothing to do until now when it comes to the actions taken against Paytm. And we believe that RBI must have taken the action in the overall interest of the consumer and the economy," Joshi told PTI in an interview. With regard to Foreign Direct Investment (FDI) in Paytm's payment aggregator subsidiary, he said

Paytm shares rise amid news reports of CEO meeting FM, RBI officials

Paytm's stock price ended the session at Rs 496.7 on Wednesday. Still, since January 31 - when the RBI ordered its payments bank division to stop accepting fresh deposits from March

Paytm aftershocks: Competition ramps up sales force, strengthens leadership

The Reserve Bank of India last week ordered Paytm Payments Bank to bar most of its businesses, including deposits, by February 29

Benchmarks end flat, MidCap index rises 1.5%; PSB, realty stocks in demand

Stock market highlights on February 7, 2024: In the broader markets, the BSE MidCap index gained over 1.48 per cent, while the BSE SmallCap index advanced 0.35 per cent

Paytm, IFCI, Reliance Power and 401 other stocks freeze at upper circuits

TRF, KIOCL, GE T&D India, Dredging Corporation of India, Azad Engineering, and Balaji Telefilms were some of the other stocks which were locked in the upper circuits of 5 per cent to 20 per cent

Stocks to Watch today, Feb 7: Nykaa, ONGC, UPL, Britannia, Biocon, Paytm

Stocks to Watch on Wednesday, February 7, 2024: The parent company of Nykaa nearly doubled its consolidated net profit to Rs 16.2 crore during Q3FY24

Paytm Bank fiasco: All eyes on IT talent for bank and fintech boards

April 1 deadline for establishing board-level IT strategy committee

Paytm chief meets RBI for clarity on transferring wallet, FASTag biz

Regulator told Paytm Payments Bank last week to stop accepting new deposits in its accounts and digital wallets from March 1

HDFC Bank talking to Paytm and evaluating developments: Parag Rao

The Reserve Bank of India (RBI) on January 31 stopped Paytm Payments Bank from accepting fresh deposits and carrying out transactions from February 29, 2024

Paytm CEO meets Union FM Sitharaman, discusses ongoing challenges: Report

The company, earlier said that it filed a specific clarification on Sunday, categorically denying any investigation by the Enforcement Directorate on OCL, our associates, and our management

Explained: What's working and what next for Paytm Payments Bank?

Users on the Paytm app will be able to use UPI services, recharge, pay bills as well as use Paytm QR, Soundbox, card machine, movie bookings, and financial services

MakeMyTrip, PolicyBazaar warn RBI of fintech hit after Paytm crackdown

There are concerns about the broader impact on India's fin-tech sector which the government says raised $5.6 billion in 2022, as digital payments and the use of smartphones and the internet boomed

FIU, ED seek report from RBI on action taken to bar Paytm's banking unit

The Enforcement Directorate and the Financial Intelligence Unit have asked the RBI to share its report on the recent action taken to bar Paytm Payments Bank Ltd from accepting deposits or top-ups in customer accounts, official sources said on Tuesday. Federal agencies ED and FIU, tasked with checking violations under the Prevention of Money Laundering Act (PMLA), are already probing matters related to the payment gateway under provisions of the anti-money laundering law. Following the action of the Reserve Bank of India (RBI), Paytm has said it did no wrong and asserted that its brand owner company One97 Communications, founder and CEO Vijay Shekhar Sharma and Paytm Payments Bank Ltd (PPBL) are not being investigated for money laundering or foreign exchange violations. The Enforcement Directorate (ED) has asked the RBI to share its latest report so that it can analyse if it needs to initiate a probe against PPBL, a senior official told PTI. The agency has been probing Paytm and oth

Sensex surges 455 pts, Nifty tops 21,900; IT index jumps 3%, YES Bank 12%

Stock market highlights on February 6, 2024: The Nifty Auto, Metal, and Pharma added over 1 per cent each

Paytm crackdown spooks merchants; Walmart, Google targeting same vendors

Cash was once king in India, but Paytm is credited with revolutionising India's digital payments market which is set to be worth $10 trillion by 2026

Paytm shock: Fintech cos wary as frequent regulatory actions hurt sentiment

Compliance to take centre-stage in fintech operations this year: Industry

Paytm CEO Vijay Shekhar, officials meet RBI to discuss regulatory concerns

Paytm has also been seeking clarity from the RBI regarding transfer of license for the wallets business and digital highway toll payment service Fastag, the source said

Startup founders write to PM, FM & RBI to review regulatory action on PPBL

Founders have called on the regulator to re-evaluate its directive and engage in dialogue with the fintech industry

Paytm denies being in talks with Jio Financial to sell its wallet biz

This marks the third clarification issued by Paytm through exchange filings in just over two days

Paytm rebounds 19% from record low amid heavy volumes

The stock hit a new low at Rs 395.50 in intra-day deals on Tuesday, and then rebounded into the positive zone for the first time in last four trading days.