FIU-IND initiated a review of Paytm Payments Bank Ltd. on receipt of specific information from law enforcement agencies in respect of a few entities and their network of businesses engaged in a number of illegal acts, including organising and facilitating online gambling.
One 97 Communications Ltd (Paytm) has informed that the Company and its associate entity, Paytm Payments Bank Limited (PPBL), have introduced additional measures to strengthen their approach towards independent operations of PPBL.
One 97 Communications Ltd (OCL), which operates popular fintech brand Paytm, on Monday said that its associate bank Paytm Payments Bank Limited, has reconstituted its Board of Directors.
None of the startup founders and fintech entities who were part of the meeting with Finance Minister Nirmala Sitharaman on Monday showed anxiety or concerns about the Paytm matter, according to sources.
The Reserve Bank of India (RBI) on Friday directed the UPI watchdog, the National Payments Corporation of India (NPCI) to examine the request of One97 Communication Ltd (OCL) to become a Third-Party Application Provider (TPAP) for the UPI channel for continued UPI operation of the Paytm app.
Fintech giant Paytm in its filing with the NSE and BSE on Friday confirmed that the Paytm app, including its Made-in-India All-in-One QR Code, Soundbox, and Card Machine, will continue to operate seamlessly even after March 15, 2024.
The Reserve Bank of India on Friday gave a 15-day relaxation to Paytm payments bank on accepting deposits. The last date will now be March 15 from the earlier date of February 29.
"Keeping in view the interest of customers (including merchants) of PPBL who may require a little more time to make alternative arrangements and the larger public interest, the following Directions are issued by the Reserve Bank of India under section 35A of the Banking Regulation Act, 19
One 97 Communications Limited, the company that operates the fintech company Paytm today issued a clarification to the BSE and the NSE on certain news reports that had suggested that there was a FEMA (Foreign Exchange Management Act) violation case registered by the Directorate of Enforcemen
The RBI which has received several queries and clarifications on the issue of Paytm Payments Banks reiterated that it will issue a list of FAQs soon on this issue.
The Board of One 97 Communications Limited, which operates popular fintech brand Paytm, announced the formation of a Group Advisory Committee chaired by former SEBI Chairman M Damodaran, to work with the Board in further strengthening compliance, and regulatory matters.
Reserve Bank of India Governor Shaktikanta Das said on Thursday that all its actions, including certain restrictions it imposed on Paytm's associate bank, are in the best interest of the public.