Vijay Shekhar Sharma stepped down as non-executive chairman Paytm said on Monday that Vijay Shekhar Sharma would step down as non-executive chairman and board member of its payments bank’s unit, as the embattled digital payments company overhauls its board after a central bank clampdown. The action against Paytm Payments Bank followed “serious supervisory concerns”, including…
The Reserve Bank of India said on Friday it has asked the National Payments Corporation of India (NPCI) to examine a request from Paytm, formally known as One 97 Communications, to become a third party application provider (TPAP). If approved, this would allow Paytm to continue processing payments via India’s popular unified payments interface (UPI),…
Paytm Payments Bank update: The Reserve Bank of India (RBI) has announced additional measures to ensure uninterrupted digital payments for UPI customers utilizing the @paytm handle, following its decision that Paytm Payments Bank will halt accepting further credits into customer accounts and wallets after March 15, 2024.These directives apply exclusively to current @paytm UPI handle…
NEW DELHI: One97 Communications shares, which operates under the brand name Paytm, hits upper circuit again on Tuesday. Its shares increased by nearly 5% and were trading at 376.25 apiece on BSE and NSE in early morning trades, respectively. Notably, it hit an upper circuit on Monday as well and closed at 358.35.Sensex started in…
NEW DELHI: The Enforcement Directorate, which has been investigating Paytm Payments Bank, a branch of One 97 Communications, for potential foreign exchange violations, has yet to find any breaches, according to a Reuters report.While no foreign exchange management act violations have been detected, the probe has uncovered lapses in compliance with know-your-customer (KYC) norms and…
NEW DELHI: The recent regulatory action taken by the Reserve Bank of India (RBI) against Paytm Payments Bank has highlighted the significance of adhering to laws for other fintech firms and that compliance cannot be “optional”, according to union minister Rajeev Chandrasekhar. In an interview with the news agency, PTI, the minister of state for…
Paytm share price today: Shares of fintech company One 97 Communications dropped 5% on Thursday, reaching a new all-time low of Rs 325.30 on the Bombay Stock Exchange. This decline comes after officials from the Directorate of Enforcement (ED) questioned Paytm Payments Bank officials regarding alleged violations of the Foreign Exchange Management Act (FEMA) by…
Paytm share price today: Paytm shares experienced a significant decline of up to 9.88% today, reaching a low of Rs 380.10 on the Bombay Stock Exchange (BSE). This drop came after global broking firm Macquarie downgraded the Vijay Shekhar Sharma-led troubled fintech company from a neutral call to underperform. Macquarie also reduced Paytm’s target price…
Ms Sule said whatever happened in Paytm Payments Bank is “very alarming”. New Delhi: Supriya Sule, an MP of the Nationalist Congress Party – Sharadchandra Pawar, on Friday alleged that apps like Google Pay and Phone Pe are “two ticking time bombs” and sought to know what steps the government is taking to check money…
EPFO limits Paytm transactions linked with EPF accounts: The Reserve Bank of India (RBI) instructed Paytm Payments Bank to halt all banking services, including deposit acceptance and payment processing, on January 31, with effect from February 29. Consequently, in response to this directive, the Employees’ Provident Fund Organisation (EPFO) has imposed limitations on deposit and…
