Paytm Payments Bank News

One 97 Communications, which is Paytm's parent firm, has got an 'administrative warning letter' from SEBI over related party transactions it had entered into with PPBL in FY22 without due approval of either audit committee or the shareholders.

Digital payments firm Paytm posted a wider loss in the fiscal fourth quarter on Wednesday, hurt by weakness in its payments and financial services business after the central bank shut down its banking unit.

The board of India's Paytm Payments Bank is independent and capable of addressing regulatory concerns, the chief executive officer of digital payments firm Paytm, formally known as One97 Communications Ltd, (OCL) said on Monday.

India's Paytm said on Tuesday that Surinder Chawla had resigned as the chief executive officer and managing director of its banking unit Paytm Payments Bank "on account of personal reasons".

Paytm, a major player in India's fintech scene, is facing a setback as its banking arm, Paytm Payments Bank Ltd (PPBL), is stopping key services from today.

Paytm Payments Bank will stop offering services like accepting deposits and processing credit transactions starting March 15, as directed by the Reserve Bank of India.

Paytm Payments Bank has been fined Rs 5.49 crore over violations in reporting illegal money routed through its accounts.

Paytm and its payments bank unit have mutually agreed to discontinue various inter-company agreements in the process to reduce dependencies, the embattled payments firm said on Friday.

Paytm CEO Vijay Shekhar Sharma on Monday resigned as non-executive chairman and board member of Paytm Payments Bank, amid ongoing regulatory challenges faced by the digital payments giant.

India's troubled Paytm is likely to partner with Axis Bank, HDFC Bank, State Bank of India and Yes Bank for processing transactions via the popular Unified Payments Interface (UPI), two sources aware of the development told Reuters.

FASTag in India is a digital toll ticket that makes paying for highway tolls quick and automatic.

The Reserve Bank of India has come out with additional measures to ensure seamless digital transactions via unified payments interface or UPI.

Jefferies Financial Group Inc. has become the first major foreign brokerage to drop coverage on Paytm-operator One 97 Communications Ltd. until the news flow around the struggling fintech major "settles down".

The Reserve Bank of India (RBI) has extended the deadline for the operations of Paytm Payments Bank Limited to March 15, 2024. The central bank had previously been told to stop certain important activities by February 29.

Paytm Payments Bank has received a small breather with the Reserve Bank of India (RBI) giving the company an extension to wind down its operations.

One 97 Communications, which is Paytm's parent firm, has got an 'administrative warning letter' from SEBI over related party transactions it had entered into with PPBL in FY22 without due approval of either audit committee or the shareholders.

Digital payments firm Paytm posted a wider loss in the fiscal fourth quarter on Wednesday, hurt by weakness in its payments and financial services business after the central bank shut down its banking unit.

The board of India's Paytm Payments Bank is independent and capable of addressing regulatory concerns, the chief executive officer of digital payments firm Paytm, formally known as One97 Communications Ltd, (OCL) said on Monday.

India's Paytm said on Tuesday that Surinder Chawla had resigned as the chief executive officer and managing director of its banking unit Paytm Payments Bank "on account of personal reasons".

Paytm, a major player in India's fintech scene, is facing a setback as its banking arm, Paytm Payments Bank Ltd (PPBL), is stopping key services from today.

Paytm Payments Bank will stop offering services like accepting deposits and processing credit transactions starting March 15, as directed by the Reserve Bank of India.

Paytm Payments Bank has been fined Rs 5.49 crore over violations in reporting illegal money routed through its accounts.

Paytm and its payments bank unit have mutually agreed to discontinue various inter-company agreements in the process to reduce dependencies, the embattled payments firm said on Friday.

Paytm CEO Vijay Shekhar Sharma on Monday resigned as non-executive chairman and board member of Paytm Payments Bank, amid ongoing regulatory challenges faced by the digital payments giant.

India's troubled Paytm is likely to partner with Axis Bank, HDFC Bank, State Bank of India and Yes Bank for processing transactions via the popular Unified Payments Interface (UPI), two sources aware of the development told Reuters.

FASTag in India is a digital toll ticket that makes paying for highway tolls quick and automatic.

The Reserve Bank of India has come out with additional measures to ensure seamless digital transactions via unified payments interface or UPI.

Jefferies Financial Group Inc. has become the first major foreign brokerage to drop coverage on Paytm-operator One 97 Communications Ltd. until the news flow around the struggling fintech major "settles down".

The Reserve Bank of India (RBI) has extended the deadline for the operations of Paytm Payments Bank Limited to March 15, 2024. The central bank had previously been told to stop certain important activities by February 29.

Paytm Payments Bank has received a small breather with the Reserve Bank of India (RBI) giving the company an extension to wind down its operations.