Paytm Payments Bank board is independent, Paytm CEO Sharma says
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Paytm Payments Bank’s wallet business fading fast as restrictions bite
The regulatory action on Paytm Payments Bank has brought the mobile wallet business of the entity, one of its most popular offerings, to a grinding halt. While it cannot add new customers as per the Reserve Bank of India diktat, transactions on the platform have fallen drastically over the last three months as consumers slowly move out of Paytm Payments Bank’s wallet ecosystem.According to data released by the RBI, Paytm Payments Bank reported 7.4 million fund transfer transactions in its...
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RBI digital payments: Track fishy transactions, RBI tells payment firms
The Reserve Bank of India has directed all regulated payment companies to track high-value or suspicious transactions during the course of general elections, according to multiple senior executives in the know.In a letter dated April 15, the RBI asked payment system operators (PSOs) to prevent any potential misuse of electronic fund transfer mechanisms to influence voters or indirectly fund poll candidates.ET has seen a copy of the letter.“The regulator wants payment companies to track...
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RBI Extends Payment Aggregator Rules to Include Physical Point of Sale Payment Providers
bank-owned P-PA services do not require any authorization, but will also have to ensure compliance with other requirements for P-PAs.