Page 7 - Paytm Payments Bank

Paytm wallet business at risk as licence transfer uncertain: Report

For the licence to be transferred back to One 97 Communications, the RBI would have to give fresh approval, which appears difficult under the current circumstances, one of the sources said

Paytm hits 2nd straight 20% lower circuit post RBI curbs; downgrades weigh

The RBI on Wednesday restricted Paytm Payment Bank from taking fresh deposits and credit transactions across its services due to non-compliance of regulations and supervisory concerns.

Day after RBI order, Paytm says it will 'accelerate' work with other banks

Paytm's parent added that it expects this action to have an impact of Rs 300 to 500 crore on its annual EBITDA

India's fintech pioneer Paytm Payments Bank has lost more than its bank

On the face of it, it's not a very big deal. A payments bank in India is basically a utility, which can accept deposits up to Rs 2,00,000 ($2,400) and is not allowed to make loans

Paytm expects up to $60 million hit from RBI action on its payments bank

Paytm will take steps immediately to comply with the RBI's directions, the fintech company said in a statement on Thursday. As a result, it expects a worst-case impact of Rs 300 crore ($36.12 million)

Paytm to trim small-ticket postpaid loans after RBI tightens norms

It disbursed personal loans amounting to Rs 3,927 crore and merchant loans worth Rs 3,275 crore in Q2FY24

RBI slaps Rs 5.39 crore penalty on Paytm PB for violating series of norms

Paytm PB facing ban on customers addition since Mar '22

RBI imposes Rs 5.39 cr penalty on Paytm Payments Bank for non-compliance

The Reserve Bank of India on Thursday said it has imposed a penalty of Rs 5.39 crore on Paytm Payments Bank Ltd for non-compliance with certain provisions, including Know Your Customer (KYC) norms. The central bank also found non-compliance with certain provisions related to 'RBI Guidelines for Licensing of Payments Banks', 'Cyber security framework in banks' and 'Securing mobile banking applications including UPI ecosystem'. A special scrutiny from KYC/AML (Anti Money Laundering) perspective of the bank was conducted and a comprehensive system audit of the bank was conducted by auditors identified by RBI, according to an official statement. After examination of the reports, RBI in the statement said it found that Paytm Payments Bank failed to identify beneficial owner in respect of entities onboarded for providing payout services. It was also revealed that the bank did not monitor payout transactions and carry out risk profiling of entities availing payout services, RBI ...

PwC resigns as Paytm Payments Services' auditor, SR Batliboi appointed

Paytm added that the statutory auditors have not raised any concerns or issues and that the company has noted PwC's resignation

Top headlines: SBI beats RIL, becomes most profitable firm, and more

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Paytm Payments gets RBI nod to re-appoint Vijay Shekhar as part-time chair

Paytm Payments Bank has received RBI nod to re-appoint Paytm CEO Vijay Shekhar Sharma as part-time chairman for a year, a regulatory filing said on Tuesday. "We have been informed that Paytm Payments Bank Ltd (PPBL) has received approval of RBI for re-appointment of Mr. Vijay Shekhar Sharma as Part-time Chairman of PPBL, for a third term starting from May 23, 2023, for a period of one year," One97 Communications said in a regulatory filing. One97 holds a 49 per cent stake in PPBL and Sharma holds the rest of the stake in the entity.

UPI charges: Here is how interchange fees on wallet payments will work

From April 1, the platforms offering prepaid instruments like wallets and gift cards will have to pay interchange fees on transactions above Rs 2,000

Paytm UPI LITE crosses 2 mn users with over half million daily transactions

Paytm UPI LITE brings single-click payments that never fail even when banks have success rate issues during peak transaction hours

Paytm Payments Bank goes live with UPI LITE for small-value transactions

Paytm Payments Bank Limited has gone live with UPI LITE, a feature enabled by the National Payments Corporation of India (NPCI) for multiple small-value UPI transactions, thus empowering its users

Paytm advances 5% on report that Sunil Mittal is eyeing stake in company

Meanwhile, Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, the Bloomberg reported

Paytm's loan disbursals jump 330 per cent in December, GMV up 38 per cent

The number of loans disbursed jumped 117 per cent in December 2022 as compared to December 2021

Paytm Payments Bank appoints Surinder Chawla as MD, CEO post RBI nod

Paytm Payments Bank has received banking regulator RBI's nod to appoint Surinder Chawla as its Managing Director and CEO, the company said in a statement on Sunday. The RBI, however, continues to bar Paytm Payments Bank from on-boarding new customers. "Paytm Payments Bank Limited (PPBL) has appointed veteran banker Mr. Surinder Chawla as its new Managing Director (MD) and Chief Executive Officer (CEO). The appointment has been approved by the Reserve Bank of India for a period of three years," the statement said. Before joining PPBL, Chawla was working with RBL Bank, where he served as Head - Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels. "I am pleased to welcome Surinder to Paytm Payments Bank to drive our unwavering commitment to deepening financial inclusion and offering an exceptional mobile-first banking experience in India," PPBL Chairman Vijay Shekhar Sharma said.

Paytm Payments Bank gets RBI nod for Surinder Chawla as new MD and CEO

Chawla is a veteran banker with over 28 years of experience across institutions such as HDFC Bank, RBL Bank, ABN Amro Bank, and Standard Chartered Bank

Risk-reward favourable for Paytm; may rise more than 100% in 1 yr: Analysts

Shares of Paytm surged 8 per cent to Rs 535.45 apiece in the intra-day trade on Friday, before settling at Rs 537, up 7 per cent

Paytm users can now make UPI payments to mobiles with third-party UPI apps

Paytm Payments Bank says the move facilitates interoperability across all UPI-based payment apps, ensuring a superfast and seamless experience