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Top related persons:
Paytm - 3 Vijay Shekhar Sharma - 3 Anindito Mukerjee - 1 There's - 1 Karan Mohla - 1 SoftBank - 1 Mukesh Ambani's - 1 New Delhi CNN — Paytm - 1
Top related locs:
India Mumbai Greater Noida New Delhi Paytm Bengaluru
Top related orgs:
Reserve Bank of India - 3 Paytm Payments Bank - 3 Bloomberg - 1 Getty - 1 B Capital - 1 One97 Communications - 1 Paytm Payments - 1 Alibaba - 1

Search resuls for: "Paytm Payments"


8 mentions found


☆ India’s booming tech sector suffers a big blow as Byju’s and Paytm plunge into crisis
  + stars: | 2024-03-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com   time to read: +2 min
A subsequent audit "revealed persistent non-compliances and continued material supervisory concerns in the bank," the central bank said on Jan. 31. Yet to be profitable, Paytm is also reportedly being probed by the federal anti-fraud agency on possible violations of foreign exchange laws. On Feb. 26, One97 Communications, the parent company of Paytm, said in an exchange filing that founder and CEO Vijay Shekhar Sharma had resigned from the board of Paytm Payments Bank. During the pandemic, Paytm capitalized on the digital payments boom in India, reporting a 3.5 times growth in transactions. SoftBank and Ant Group are now reportedly cutting their stakes in the payments company, according to local media.
Persons: Anindito Mukerjee, There's, Karan Mohla, Paytm, Vijay Shekhar Sharma, SoftBank Organizations: Bloomberg, Getty, B Capital, Reserve Bank of India, One97 Communications, Paytm Payments, Alibaba, Ant, Ant Group Locations: Greater Noida, India
☆ India's Paytm shares pop 8% after Ambani's Jio Financial denies deal talks for wallet business
  + stars: | 2024-02-06 | by ( Shreyashi Sanyal | ) www.cnbc.com   time to read: +1 min
A restaurant advertises the use of the Paytm digital payment system in Mumbai, India, on Saturday, July 17, 2021. It comes after Indian billionaire Mukesh Ambani's Jio Financial Services denied media reports it was buying Paytm's wallet business. Hindustan Times reported Monday that Jio Financial, owned by Ambani's conglomerate Reliance, would acquire Paytm's wallet business. The report sent shares of Jio Financial up as much as 16.5% on an intraday basis yesterday. Jio Financial issued a statement to the exchange late Monday to confirm it was not in talks to buy Paytm's digital wallet business.
Persons: Mukesh Ambani's, Paytm Organizations: Financial Services, Communications, India's National Stock Exchange, Reserve Bank of India, Paytm Payments Bank, Hindustan Times, Jio Locations: Mumbai, India
☆ Paytm was once India’s hottest startup. Its shares have crashed 36% in two days
  + stars: | 2024-02-02 | by ( Diksha Madhok | ) edition.cnn.com   time to read: +3 min
Shares of the hugely popular digital payments company have crashed by the daily maximum allowed in Mumbai for two days in a row, even though India’s stock markets have been touching new all-time highs. It also landed in hot water with regulators — two years ago, the central bank barred its banking arm from signing up new customers. Paytm stock is now trading at just 487 rupees (around $6) a share. The latest plunge came after India’s central bank cracked down further on its business. Paytm launched its payments bank in 2017 as a joint venture with founder Vijay Shekhar Sharma.
Persons: New Delhi CNN — Paytm, Paytm, ”, Manish Chowdhury, Vijay Shekhar Sharma, Sharma, Narendra Modi, ” Sharma Organizations: New, New Delhi CNN, Paytm Payments Bank, Indian, CNN Locations: New Delhi, Mumbai, India
☆ India's central bank imposes penalty on Paytm Payments Bank
  + stars: | 2023-10-12 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Oct 12 (Reuters) - India's central bank said on Thursday it has imposed a penalty of 53.9 million rupees ($647,762.58) on Paytm Payments Bank for non-compliance with some provisions, including Know Your Customer (KYC) directions. According to the Reserve Bank of India (RBI), Paytm Payments Bank had failed to identify beneficial owners of entities on-boarded by it for providing payout services. It also did not monitor payout transactions and carry out risk profiling of entities availing payout services, among others. The RBI had last year barred Paytm Payments Bank from taking on new customers and ordered a comprehensive audit of its IT systems, citing "material" supervisory concerns observed in the bank. Paytm Payments Bank had also breached the regulatory ceiling of end-of-the-day balance in certain customer advance accounts that were availing payout services, the central bank said in a statement.
Persons: Dado Ruvic, Vijay Shekhar Sharma, Antfin, China's, Ashish Chandra, Sohini Goswami Organizations: REUTERS, Rights, Paytm Payments Bank, Reserve Bank of India, Bank, Google, HK, Thomson Locations: India, Paytm, Bengaluru
☆ India's Paytm wins regulator extension for payment aggregator licence application
  + stars: | 2023-03-26 | by ( ) www.reuters.com   time to read: +1 min
March 26 (Reuters) - Indian financial technology company Paytm Payments Services Ltd has received an extension from the country's banking regulator to apply for a payment aggregator licence and aims to reapply in about 15 days, the company said on Sunday. Paytm Payments Services, in the meantime, can continue with the online payment aggregation business for its existing partners, without taking on any new merchants, the company said in a notification to stock exchanges on Sunday. Paytm Payments Services Ltd is a wholly owned subsidiary of One 97 Communications (PAYT.NS). Payment aggregators, platforms that bring together various online payment options, must be licensed by India's central bank and banking regulator, Reserve Bank of India. In November, India's banking regulator had declined a payment aggregator licence for the One 97 Communications unit that owns the popular Paytm brand.
☆ Airtel would be a complex saviour for Paytm
  + stars: | 2023-02-28 | by ( Shritama Bose | ) www.reuters.com   time to read: +4 min
An investment from tycoon Sunil Bharti Mittal would deliver a timely vote of confidence in the loss-making Indian financial technology darling whose Chinese investors are exiting. Currently it only has a payments bank licence, so it can accept deposits but not lend. New shareholders might also help ease an ongoing regulatory freeze on Paytm accepting deposits from new customers. He is seeking a stake in Paytm by merging his financial services unit – Airtel Payments Bank – into Paytm’s comparable unit, and wants to buy shares in its parent too from other holders, per Bloomberg. Mittal seeks to fold Airtel Payments Bank into Paytm Payments Bank in a stock deal and is also seeking to buy Paytm shares from other holders, the people said, asking not to be identified discussing private information.
☆ India's Paytm bank gets central bank nod to name new CEO
  + stars: | 2023-01-08 | by ( ) www.reuters.com   time to read: +1 min
NEW DELHI, Jan 9 (Reuters) - Paytm Payments Bank, majority owned by billionaire Vijay Shekhar Sharma, has received India's central bank's approval to name Surinder Chawla as its new chief executive, a statement said. Last year, India's central bank barred Paytm Payments Bank from taking on new customers and ordered a comprehensive audit of its IT systems, citing "material" supervisory concerns observed in the bank. Paytm Payments Bank facilitates transactions on mobile commerce platform Paytm. In its statement, One 97 Communications Ltd (PAYT.NS), the parent of fintech firm Paytm, said India's central bank has given its nod to appoint Surinder Chawla as Paytm Payments Bank's managing director and chief executive. Paytm listed in 2021 after a mega $2.5 billion initial public offer.
☆ India regulator asks One 97 Communications unit to reapply for payment aggregator licence
  + stars: | 2022-11-26 | by ( ) www.reuters.com   time to read: +1 min
MUMBAI, Nov 26 (Reuters) - India's banking regulator has declined a payment aggregator licence for the One 97 Communications Ltd (PAYT.NS) unit that owns the popular Paytm brand, asking it to reapply with 120 days after meeting certain conditions. The regulator asked Paytm Payments Services Ltd, a 100% subsidiary of One 97 Communications, to reapply after getting the necessary approvals for foreign direct investment in the company to comply with existing rules, the company said in a notification to stock exchanges on Saturday. Payment aggregators, platforms that bring together various online payment options, must be licensed by India's central bank and banking regulator, Reserve Bank of India. In its communication to exchanges, One 97 Communications said it does not expect the delay in securing a payment aggregator licence to impact its business. The regulator also asked that Paytm Payments Services not bring onboard new online merchants until it reapplies for the licence.
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