Matter pertains to benefits paid to Vijay Shekhar Sharma and lapse in identifying promoter
The Paytm CEO faced criticism for a specific remark on late Ratan Naval Tata, leading him to delete his post, a screenshot of which has since gone viral on X
Fintech will provide point-of-sale and card machines to the private sector lender
In the past one month, Paytm stock has outperformed the market by zooming 25 per cent, as compared to 4.5 per cent rise in the BSE Sensex, data shows
During FY23, the company maintained an average of 32,798 employees on its rolls, with 29,503 actively engaged
Paytm Payments Bank's parent is One 97 Communications, popularly known as Paytm for its digital payments app. One97 owns 49% in the payments bank, while Sharma holds the remaining 51%
The company added that investor Ant Financial did not have any board representation or special rights
Chawla was appointed as managing director and CEO of Paytm Payments Bank in January 2023 after it received a nod from RBI
The Japanese conglomerate held a 17.5% stake in Paytm in September 2022. Since then, it has trimmed its ownership through multiple open market deals
The development comes weeks after the Reserve Bank of India (RBI) imposed severe restrictions on the payments bank's operations
The Chinese company, however, had sold its stake worth Rs 8,293 crore in three tranches over the one year thus saving a major part of its portfolio from the meltdown
To address various issues of customers of beleaguered Paytm Payments Bank Ltd (PPBL), the Reserve Bank will issue a set of FAQs (Frequently Asked Questions) this week. "Wait for FAQ that will have a set of clarifications related to customers of PPBL as our priority is customers should not be inconvenienced. Customer interest and depositors interest is uppermost for us," RBI Governor Shaktikanta Das said after the Finance Minister's customary address to the central bank's board. In a major action against Paytm Payments Bank (PPBL), RBI, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. Asked if the deadline of February 29 would be extended, Das said, Wait for the FAQ. "Don't expect review of RBI's decision in FAQ. FAQ will address issues related with depositors, customers, wallet users, FASTag holders. Whatever is in the customers' interest that we are dealing in FAQ," he said. Earlie
The stock hit a new low at Rs 395.50 in intra-day deals on Tuesday, and then rebounded into the positive zone for the first time in last four trading days.
RBI Paytm Payments Bank news: After the ban announced on January 31, the shares of One97 Communications Ltd have fallen over 43% and are near their all-time low
Paytm's market capitalisation has eroded by Rs 20,497 crore in 3 days, while from its all time high level of Rs 1.24 trillion, the m-cap has been wiped off by nearly Rs 1 trillion
Meanwhile, the company has cautioned against speculation on reasons that prompted the Reserve Bank of India (RBI) to take action against Paytm Payments Bank
The (RBI) on Wednesday ordered the payments bank unit of One 97 Communications, popularly known as Paytm, to stop accepting fresh deposits in its accounts or popular wallets from March
Billionaire founder-CEO Vijay Shekhar Sharma is overhauling its suite of money management products to better tap growing wealth among younger users, who're warmer to the idea of investing online
The buy now, pay later (BNPL) business may moderate sharply with disbursements down by 15-18 per cent
IiAS has asserted that the deal not only demonstrates investors' faith in Sharma but also highlights regulatory gaps in the definition and distinction between a founder and a promoter