Page 144 - Rbi

Jio Financial Services denies being in talks to acquire Paytm's wallet biz

Paytm news: Earlier, a media report had stated that JFSL and HDFC Bank were frontrunners to buy Paytm's wallet business

Paytm Payments Bank and RBI ban: What went wrong and the story so far

RBI Paytm Payments Bank news: After the ban announced on January 31, the shares of One97 Communications Ltd have fallen over 43% and are near their all-time low

TMS Ep623: RBI on Paytm, Hero E2W, investment strategy, Lakhpati Didi

What does RBI's move on Paytm mean for you? Can Hero ace the EV two-wheeler segment? What should be your investment strategy post Budget? Who are 'Lakhpati Didis'? All answers here

Run-up to MPC meeting: 'Time not ripe to signal monetary policy reversal'

Domestically, growth, especially in non-agricultural segments, is holding firm amid improved macro-financial stability

RBI conducts 4-day VRRR auction as overnight rates fall below repo

Banks parked Rs 18,750 crore at the auction against a notified amount of Rs 50,000 crore at a weighted average rate of 6.49 per cent

Slice announces public release of UPI first account product for everyone

/ -- slice, India's leading fintech startup, announces the public release of its highly anticipated UPI first account - slice account. After a successful three-month beta testing period, primarily available to its existing customer base, slice is now extending slice account services to all users. The slice account has witnessed overwhelming approval from the customers, who have quickly taken to its fast, integrated experience that combines user funds and digital payments within a single app infrastructure. Indulge in a fine payment experience: slice's UPI first account offers a UPI handle (@slice) and a virtual account. The customers can effortlessly add money in the virtual account and spend via UPI or card, or link any other bank accounts they want, enjoying a seamless and fast UPI payment experience. slice account simplifies the payment process by eliminating cross-selling and prioritising a user-friendly interface designed to save time. It includes autoload functionality for ..

RBI bars Paytm Payments Bank from carrying out transactions starting Feb 29

'Persistent non-compliance' by company, says order barring it from credit transactions or top-ups in customer accounts

Paytm's CEO says there would be no layoffs, working with RBI: Report

Paytm's CEO Vijay Shekhar Sharma assured the employees that they will figure everything out soon

Monetary policy: RBI likely to hold rates for sixth time, shows BS poll

Focus on liquidity; few expect neutral stance

Diversion ahead: Will Paytm's Vijay Shekhar Sharma overcome roadblocks?

At Paytm Payments Bank's presentation in 2016, Vijay Shekhar Sharma had said he saw no challenges, unless roadblocks came later

No ED investigation against company or CEO for money laundering: Paytm

The Enforcement Directorate is neither investigating One97 Communications, owner of Paytm brand, nor its Founder and CEO Vijay Shekhar Sharma for money laundering, the company said on Sunday. The ED had visited premises of the company and some other fintech firms like Razorpay in September 2022 for money laundering investigations against some of the merchants that were using their platforms. "Neither the Company nor its founder and CEO are being investigated by the Enforcement Directorate regarding inter alia money laundering. In the past, certain merchants/users on our platforms have been subject to enquiries and on those occasions, we have always cooperated with the authorities," Paytm said in a regulatory filing. The company said it has cooperated with the agencies during any investigations by the authorities on any set of merchants or users in the past. "We would like to set the record straight and deny any involvement in anti-money laundering activities. We have and continue t

Vijay Shekhar Sharma: From architect of fintech powerhouse to controversies

Vijay Shekhar Sharma, one of the most recognised faces of India's fintech industry, has seen a fair share of controversies. Sharma launched Paytm - an acronym for 'pay through mobile' - offering mobile recharges. He launched wallet services in 2011 but the big push came with the 2016 demonetisation. He took out front-page ads in top newspapers with Prime Minister Narendra Modi's photo, calling demonetisation the "boldest decision in the financial history of independent India". With fewer currency notes in circulation, Paytm was on a roll. Sharma made a splash in 2018 by getting USD 300 million investment in Paytm from Warren Buffett's Berkshire Hathaway. *Controversies* Paytm was mired in controversies with its Chinese connection following huge investments from Alibaba Group. The Chinese internet firm became the biggest shareholder in Paytm with a 34.7 per cent stake before the company's initial public offer. Alibaba group firm Antfin sold around 5 per cent shares to lower its st

CAIT advises traders to switch from Paytm to other payment options

Traders' body CAIT on Sunday issued a cautionary advisory to traders to switch from Paytm to other payment options for business-related transactions following RBI curbs on Paytm wallet and bank operations. "The Reserve Bank of India has imposed certain restrictions, prompting CAIT to recommend that users take proactive measures to protect their funds and ensure uninterrupted financial transactions. Large number of small traders, vendors, hawkers and women are making payments through Paytm and as such RBI restrictions on Paytm could lead financial disruption to these people," the Confederation of All India Traders (CAIT) stated. Money laundering concerns and questionable dealings of hundreds of crores of rupees between popular wallet Paytm and its lesser-known banking arm had led Reserve Bank of India to clamp down on tech poster boy Vijay Shekhar Sharma-run entities, according to sources. The central bank has ordered Paytm Payments Bank Ltd (PPBL) to halt most of its business ...

RBI interest rate decision, global trends to dictate stock mkts: Analysts

Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. "On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8. The Q3 quarterly results season will continue to remain in focus. Bharti Airtel, Power Grid, Nestle, Lupin and Tata Power will announce their results this week," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. Market participants will be keeping an eye on the movement of the rupee against the dollar and crude oil prices, Gour said. Investments by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) will also be monitored, he added. "With the US Fed and interim Budget now behind, all eyes w

RBI restrictions on Paytm Bank: Merchants, users mull platform change

A message from the company's founder and chief executive officer, Vijay Shekhar Sharma, on messaging platform X did not help clarify matters for users of Paytm services

RBI curbs on Patym to have major impact but valuation remains attractive

The fintech firm said it will compensate by expanding existing relationships with third-party banks to distribute payments, financial services and products

Government bonds give up early gains as traders sell at a profit

The yield on the benchmark 10-year government bond touched the day's low of 7.02 per cent as the government announced lower-than-expected gross borrowing for financial year 2024-25 on Thursday

RBI urges public to be cautious of fraud in the name of KYC update

The regulator asked customers to lodge a complaint on the National Cyber Crime Reporting Portal (www.cybercrime.gov.in) or through the cybercrime helpline (1930) in case of financial cyber frauds

RBI likely to consider canceling Paytm Payments Bank permit: Report

No final decision has been reached as yet and the RBI's thinking may change based on Paytm's representation, the people said

Paytm wallet business at risk as licence transfer uncertain: Report

For the licence to be transferred back to One 97 Communications, the RBI would have to give fresh approval, which appears difficult under the current circumstances, one of the sources said