RBI Moves to Ensure UPI Transactions on Paytm Continue to Work After Strictures on Paytm Payments Bank

RBI Moves to Ensure UPI Transactions on Paytm Continue to Work After Strictures on Paytm Payments Bank

ByNews Polite

The Reserve Bank of India said on Friday it has asked the National Payments Corporation of India (NPCI) to examine a request from Paytm, formally known as One 97 Communications, to become a third party application provider (TPAP). If approved, this would allow Paytm to continue processing payments via India’s…

RBI Not Planning Harsher Rules to Curb Fintech Sector After Paytm Strictures, Official Says

RBI Not Planning Harsher Rules to Curb Fintech Sector After Paytm Strictures, Official Says

ByNews Polite

India’s banking regulator doesn’t intend to impose drastic measures on the country’s fintech sector, a senior official said, weeks after it stunned investors by abruptly suspending much of the operations of Paytm Payments Bank, founded by high-flying billionaire Vijay Shekhar Sharma. There are “no harsher measures coming on fintech,” P….

EPFO to Halt Claims Made via Paytm Payments Bank Following RBI Restrictions

EPFO to Halt Claims Made via Paytm Payments Bank Following RBI Restrictions

ByNews Polite

India’s state-run social security fund will halt claims made via Paytm Payments Bank accounts from Feb. 23, as the country’s central bank imposed restrictions on the payments bank due to persistent irregularities, a government order said. The Employees’ Provident Fund Organisation (EPFO) has asked its officers to refrain from accepting…

Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report

Reserve Bank of India Calls on More Lenders to Take Part in Pilot for Retail Digital Rupee: Report

ByNews Polite

The Reserve Bank of India (RBI) has called on a wider set of lenders to take part in pilot programmes using the central bank digital currency (CBDC) as it tries to increase transactions, three bankers told Reuters on Wednesday. Nearly two dozen central banks across emerging and advanced economies are…

Paytm Wins RBI Extension for Payment Aggregator Licence Application: Details

Paytm Wins RBI Extension for Payment Aggregator Licence Application: Details

ByNews Polite

Indian financial technology company Paytm Payments Services 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…