Paytm Payments Bank is closed today.Click here for details

The Paytm app will continue to work even after March 15. Paytm, a major player in India’s fintech space, is facing a setback as its banking arm Paytm Payments Bank Ltd (PPBL) has stopped critical services from today. Earlier, the Reserve Bank of India imposed restrictions on the bank citing serious violation of rules. Customers … Read more

Paytm gets third-party app license from payment agency

Previously, its banking subsidiary Paytm Payments Bank had ceased operations on March 15. Indian digital payments company Paytm, formally known as One 97 Communications, on Thursday received a third-party application provider license from the country’s payments agency, which will enable it to facilitate payments after its banking unit ceases operations. The license will allow customers … Read more

Paytm payments bank says it will lay off about 20% of its staff before shutting down

Indian digital payments company Paytm plans to cut nearly 20% of its workforce at its banking unit, two sources said, as a looming central bank deadline to halt most operations casts uncertainty over the unit’s future. Paytm Payments Bank has decided to lay off employees in certain departments, including operations, sources with direct knowledge of … Read more

Paytm closes inter-company agreement with Paytm Payments Bank

Paytm did not say which agreements were being terminated. Bengaluru: Paytm and its payments bank unit have mutually agreed to wind down various inter-company agreements in the process of reducing dependency, the embattled payments firm said on Friday. Paytm, formally known as One 97 Communications, did not specify which agreements were being terminated. The payments … Read more

FASTag KYC last date 29 February: How to avoid becoming inactive

FASTag KYC deadline is ending on 29th February. The National Highways Authority of India (NHAI) has launched the “One Vehicle, One Fastag” initiative to streamline toll collection and reduce traffic congestion across the country. This initiative discourages users from using the same Fastag for multiple vehicles and vice versa. As part of this initiative, NHAI … Read more

Explained: Why Paytm CEO Vijay Shekhar Sharma left the payments bank board

Mr Sharma holds 51 per cent stake in Paytm Payments Bank. New Delhi: Amid the ongoing regulatory challenges facing the digital payments giant, Paytm CEO Vijay Shekhar Sharma on Monday resigned as non-executive chairman and board member of Paytm Payments Bank. The decision follows a series of measures imposed by the Reserve Bank of India … Read more

RBI takes steps to keep UPI transactions on Paytm functional

The Reserve Bank of India on Friday said it has asked the National Payments Corporation of India (NPCI) to review the request of Paytm, formally known as One 97 Communications, to become a third-party application provider (TPAP). If approved, Paytm will be able to continue processing payments through India’s popular Unified Payments Interface (UPI) but … Read more

RBI’s measure on Paytm request “for continued UPI operations”

A group of newly identified banks will be required to support the Paytm app. The Reserve Bank of India on Friday said it has asked the National Payments Corporation of India to examine the request of Paytm, formally known as One97 Communications, to become a third party application provider (TPAP). If approved, it will allow … Read more