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Business News/Topic/    The Paytm Saga

THE PAYTM SAGA

When Paytm listed in 2021, it was seen as a watershed moment for India’s fintech sector. Paytm was interchangeable with the UPI system; its audio boxes with a store’s QR code became ubiquitous across the country’s massive unorganised retail sector. But since its listing, the company’s journey has soured — much like its stock price. Regulatory hurdles have seemingly come in the way of its rapid progress. Most recently, the Reserve Bank of India’s strictures over several non-compliances resulted in Paytm losing both investor and employee confidence. Read Mint’s reporting of the fintech, its leadership, governance, and workplace issues here:
Shares of India's Paytm nosedived on February 1, 2024 after the banking regulator ordered that its payments bank stop accepting fresh deposits, a major blow for the mobile payments giant (AFP) Premium

FIU fines Paytm Bank ₹5.5 crore for PMLA violation

2 min read . 01 Mar 2024
File photo: Paytm app is seen on a smartphone in this illustration (Reuters / Dado Ruvic) Premium

Paytm discontinues inter-company agreements with Paytm Payments Bank

1 min read . 01 Mar 2024
The clarification came a day after Mint reported that the ED has initiated a probe into suspected breaches at Paytm Payments Bank following a referral from the Reserve Bank of India (Reuters) Premium

Paytm parent confirms ED action

2 min read . 14 Feb 2024
This revised target price indicates a 35% downside potential from the current trading price of ₹396 per share. (Bloomberg) Premium

Paytm stock sheds another 8.5% after Macquarie cuts target price to ₹275

2 min read . 13 Feb 2024
Reserve Bank of India Governor Shaktikanta Das addresses a press conference. (PTI) Premium

No review of action against Paytm Payments Bank: RBI gov Shaktikanta Das

3 min read . 12 Feb 2024
File image of Paytm Founder-CEO Vijay Shekhar Sharma (Photo Ramesh Pathania/Mint;) Premium

The fall of Paytm Payments Bank: From RBI action, stock crash & sale speculation

8 min read . 13 Mar 2024
In March 2022, the RBI had had directed PPBL to stop onboarding new customers with immediate effect. (Bloomberg) Premium

After a bloody nose, Paytm puts up a brave face

3 min read . 01 Feb 2024
The company and its associate Paytm Payments Bank Limited are not the subject matter of any such investigation, Paytm said. Premium

Paytm denies FEMA probe, terms media reports ‘misleading, baseless’

1 min read . 05 Feb 2024
Reports suggest that while One97 has a sub-majority stake, about 10% of Paytm Payments Bank is owned through a joint venture between Sharma and One97, which Sharma controls via his shareholding and directorship. (Bloomberg) Premium

RBI should respond to Paytm's 'speed bump' with banking reforms

2 min read . 05 Feb 2024
At a virtual town hall on Saturday, the company's founder and chief executive Vijay Shekhar Sharma tried to assuage employees' fears about the future of the group, which employs about 35,000 people. Photo: PTI Premium

RBI crackdown sends Paytm Payments Bank employees on a job hunt

2 min read . 04 Feb 2024
On Wednesday, the RBI went one step ahead and barred Paytm Payments Bank from providing any credit transactions or top ups and further deposits in any customer accounts, prepaid instruments, wallets, FASTags after 29 February other than any interest, cashbacks or refunds. Bloomberg Premium

Paytm fiasco: A question mark over India’s acclaimed fintech industry

4 min read . 02 Feb 2024
Shares of One97 Communications, the bank’s parent, fell 20% each on both days after RBI prohibited it from most banking activities. (Mint) Premium

What triggered the shock move against Paytm bank?

3 min read . 02 Feb 2024
RBI has imposed major business restrictions on Paytm Payments Bank, including a ban on accepting fresh deposits and making credit transactions. (Reuters) Premium

On RBI's crackdown, and what next for Paytm

3 min read . 01 Feb 2024
FILE PHOTO: Workers adjust a hoarding of Paytm, a digital payments firm, in Ahmedabad, India, January 31, 2019. Picture taken January 31, 2019. REUTERS/Amit Dave/File Photo (REUTERS) Premium

Crushing curbs on Paytm Payments Bank

3 min read . 31 Jan 2024
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