The move comes at a time when other players, including PhonePe, Cashfree Payments, and Razorpay, made similar moves nearly two months ago
Paytm's share price rose 7.79 per cent, closing at Rs 742.45 on Tuesday on the Bombay Stock Exchange
Paytm share price: With Paytm Money's registration as a research analyst, Paytm Money Limited can offer Sebi-compliant research services, including investment insights, and research reports
Other amendments included modifying the vesting schedule for future grants from the previous five-year limit to a range of one to five years from the grant date
As per reports, the banking industry's large merchants have made a formal request to reintroduce MDR on UPI transactions to the Union government, and the relevant departments are reviewing it
Following the rollout of PDF statements, the new Excel format offers enhanced flexibility for managing expenses
Paytm UPI users can now set up automatic payment deductions directly from their bank account for trades, without having to transfer large sums to their trading accounts on brokerage apps
The Enforcement Directorate on Monday said it has issued a Rs 611 crore worth show cause notice to Paytm's parent company and linked entities for "contravention" of the FEMA on various counts. The notice has been issued by a special director of the federal agency before the initiation of adjudication proceedings. The show cause notice has been issued to Paytm's flagship company One 97 Communication limited (OCL), its managing director and other Paytm subsidiary companies like Little Internet Pvt Ltd and Nearbuy India Pvt Ltd for contraventions of the provisions of the Foreign Exchange Management Act (FEMA) to tune of around Rs 611 crore, the ED said in a statement. Investigation found that OCL made foreign investment in Singapore and "did not" file necessary reporting to the Reserve Bank of India (RBI) for the creation of an overseas step-down subsidiary, it said. The OCL had also received foreign direct investment (FDI) from overseas investors "without following" proper pricing ..
The company has allegedly violated the Foreign Exchange Management Act (Fema) involving aggregate transactions worth over Rs 611 crore related to the acquisition of its subsidiaries
Company says these violations pertain to a period when these firms were not subsidiaries of One97 Communications
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Chatbot will let customers ask questions, explore topics in Indian languages and make financial decisions
This support initiative is aimed at fostering innovation and accelerating the growth of manufacturing and fintech startups in India
The reactivation effort comes at a time when the payments bank has lost 72.25 per cent of its prepaid payment instrument (PPI) wallets from 363.15 million
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Paytm had informed about the investment of $1 million (equivalent to Rs 8.7 crore) by Paytm Cloud Technologies Ltd in Seven Technology LLC, Delaware for acquisition of a 25 per cent stake
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In a separate development, Paytm Money announced the appointment of Rajeev Krishnamuralilal Agarwal as an additional non-executive independent director on its Board
The Noida-based company said it was evaluating its options, including an appeal against the order issued by the Joint Commissioner, CGST Delhi North
Following the completion of the transaction, Seven Technology and Dinnie will become associate entities of One97 Communications (OCL), the parent company of Paytm