Recently, the banking unit of payment services company Paytm was ordered by the Reserve Bank of India (RBI) to shut down operations due to compliance violations. This increased the apprehensions of the fintech industry. RBI has given assurance regarding this industry. RBI Governor, Shaktikanta Das said that the action taken on Paytm Payments Bank (PPBL)…
Paytm Payments Bank will stop providing services like deposits and credit transactions from March 15. As per the instructions of the Reserve Bank of India, Paytm Payments Bank was banned on January 31 citing serious violation of rules. Bombay Stock Exchange (BSE) has also issued guidelines for investors who use the bank for stock trading….
Paytm, which is associated with payment services, has planned to lay off about 20 percent of the workers in its banking unit. The Reserve Bank of India (RBI) has ordered Paytm Payments Bank to cease operations from March 15. For this reason it has been decided to make layoffs from this unit. This layoff will…
Paytm, which deals with payment services, has received a Third-Party Application Provider (TPAP) license from the National Payments Corporation of India (NPCI). Paytm’s banking unit Paytm Payments Bank (PPBL) was ordered by the Reserve Bank of India (RBI) to stop services from March 15. The reason for this was the compliance violations committed by PPBL….
UPI News: If you use UPI 123pay and UPI Lite, then this news is useful for you. RBI Governor Shaktikanta Das made new announcements on Wednesday, which will benefit UPI 123Pay and UPI Lite users. According to reports, Reserve Bank of India has increased the wallet limit of UPI Lite to Rs 5,000. Earlier this…
There were approximately 131 billion Unified Payments Interface (UPI) transactions in the country in the last financial year. Their total value was approximately Rs 200 lakh crore. According to data from National Payments Corporation of India (NPCI), in the last financial year there were about 83.7 crore UPI transactions whose value was about Rs 139…
Paytm, which deals with financial services, may soon lay off workers. The company has said that it will cut its non-core assets. In the fourth quarter of the last financial year, the revenue of One 97 Communications, which runs Paytm, declined by 2.6 percent for the first time since its listing. The company’s revenue was…
In a big campaign against loan and lending apps, the central government has ordered to ban 138 betting and 94 lending apps related to China. This action has been taken by the Ministry of Electronics and Information Technology. According to reports, the government started scrutiny of many Chinese apps about six months ago. It was…
The scope of online payments has increased rapidly in the last few years. Unified Payments Interface (UPI) transactions have created a record in May. Last month, there were 14.04 billion UPI transactions whose value was approximately $20.45 trillion. This is an increase of six percent in terms of volume and four percent in value as…
Payment services company Paytm, which has been facing difficulties for the last few months, has seen its share in Unified Payments Interface (UPI) transactions decline for the fourth consecutive month. Paytm’s share in total UPI transactions declined to 8.1 percent in May. In January, the Reserve Bank of India (RBI) had ordered the closure of…