Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword> has regained approval from the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>) to onboard new UPI users, marking a significant turnaround for the fintech giant. This development follows a setback earlier this year when <keyword id="20410154" type="General" weightage="20" keywordseo="Paytm-Payments-Bank-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm Payments Bank Limited" meta.hostid="261" meta.entityid="Paytm Payments Bank Limited">Paytm Payments Bank Limited</keyword> (PPBL), an associate company of Paytm, was barred from adding new users to its UPI platform due to regulatory concerns raised by the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI). <h2>Paytm gets permission to onboard new UPI users </h2> In a regulatory filing on Tuesday evening, Paytm disclosed that NPCI granted permission for the company to resume onboarding UPI users, provided it complies with all procedural guidelines and circulars issued by the corporation. “We would like to inform you that vide letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has granted approval to the Company to on-board new UPI users, with adherence to all NPCI procedural guidelines and circulars,” Paytm said in the filing. This move is seen as a relief for the company, which has been under scrutiny following the RBI’s intervention in January. The NPCI, which had previously allowed Paytm to operate as a Third-Party Application Provider (TPAP) for UPI transactions, has now reinstated its ability to bring new users onto the platform, albeit with strict conditions. Paytm can continue UPI operations through its partnerships with major banking institutions, including SBI, HDFC Bank, Axis Bank, and YES Bank. The NPCI’s approval comes after a thorough review of Paytm’s compliance with procedural guidelines, including those pertaining to risk management, app branding, multi-bank participation, and data privacy. The fintech firm has been instructed to adhere to key regulatory frameworks, such as the Payments and Settlement Act of 2007 and the Digital Personal Data Protection Act of 2023. This approval follows a request by Paytm’s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords">One97 Communications</keyword> Ltd (OCL), in August, seeking permission to resume UPI onboarding. The NPCI’s decision also reflects that Paytm has addressed concerns raised in the RBI’s directive from earlier this year, which had highlighted persistent non-compliance issues with its banking subsidiary, PPBL. On a related note, Paytm reported a strong financial performance for the quarter ending September 2024. The company posted a net profit of ₹928.3 crore, a marked improvement from the ₹290.5 crore loss it recorded during the same period last year. <h2>What had happened? </h2> For the unversed, in January 2024, the Reserve Bank of India (RBI) told Paytm Payments Bank Limited (PPBL) to stop accepting deposits and processing UPI top-ups. This decision stemmed from ongoing concerns about the bank’s compliance and serious issues that needed addressing. As a result, Paytm found itself unable to onboard new UPI users, significantly disrupting its growing customer base and raising doubts about its future in the crowded <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> market. However, things took a turn for the better in March 2024 when the National Payments Corporation of India (NPCI) gave Paytm the green light to resume UPI transactions. The catch? Paytm could only operate as a Third-Party Application Provider (TPAP), meaning it had to partner with established banks like SBI, Axis Bank, HDFC Bank, and YES Bank for its UPI services. While this arrangement posed some limitations, it allowed Paytm to keep moving forward and adapt to the regulatory challenges it faced in India’s digital payment landscape. (with PTI inputs)

Paytm can onboard new UPI users again, receives NPCI nod months after RBI restrictions

Shares of fintech firm <keyword id="181441" type="General" weightage="20" keywordseo="One97-Communications" source="Orion">One97 Communications</keyword> -- the owner of <keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords">Paytm</keyword> brand -- jumped 5 per cent on Thursday morning after the company received the government's approval for downstream investment in wholly-owned subsidiary <keyword id="22960487" type="General" weightage="20" keywordseo="Paytm-Payments-Services-Ltd-" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm Payments Services Ltd." meta.hostid="261" meta.entityid="Paytm Payments Services Ltd.">Paytm Payments Services Ltd.</keyword> The stock climbed 5 per cent to Rs 565 on the BSE. At the NSE, it surged 4.98 per cent to Rs 564.80. The company will reapply for a <keyword id="6640986" type="General" weightage="20" keywordseo="payment-aggregator" source="Orion">payment aggregator</keyword> (PA) licence, a regulatory filing said on Wednesday. "We would like to inform you that <keyword id="20410230" type="General" weightage="20" keywordseo="PPSL" source="keywords">PPSL</keyword> has received approval from the government of India, <keyword id="156153" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="Orion">Ministry of Finance</keyword>, Department of Financial Services, vide its letter dated August 27, 2024, for downstream investment from the company into PPSL. "With this approval in place, PPSL will proceed to resubmit its PA application. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners," Paytm filing said. The Reserve Bank of India (RBI) had rejected Paytm's PA licence permit application in November 2022 and instructed the company to reapply with Press Note 3 compliance under the foreign direct investment norms. As per Press Note 3, the government had made its prior approval mandatory for investments from nations that share land borders with India.

Paytm shares jump 5% on receiving government's nod for investment in Paytm Payments Services

New Delhi, Shares of One97 Communications Ltd, which owns and operates <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword>, on Friday, jumped 5 per cent after the company said the board has approved the discontinuation of inter-company pacts with <keyword id="19907220" type="General" weightage="20" keywordseo="paytm-payments-bank" source="keywords">Paytm Payments Bank</keyword> to reduce dependencies. The stock climbed 5 per cent to Rs 425.45 -- its upper circuit limit -- on the BSE after falling in the past three trading days. Shares of the company had fallen by 5.31 per cent in the last three days. The stock jumped 4.99 per cent to Rs 423.45 -- the upper circuit limit -- on the NSE. In traded volume terms, 7.97 lakh shares of the company were traded on the BSE and over 46.64 lakh shares on the NSE during the day. Amid <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>'s action on its associate firm, One97 Communications on Friday said the board has approved the discontinuation of inter-company pacts with Paytm Payments Bank to reduce dependencies. The move assumes significance as <keyword id="20410154" type="General" weightage="20" keywordseo="paytm-payments-bank-limited" source="keywords">Paytm Payments Bank Limited</keyword> (PPBL) is under the RBI's lens over persistent non-compliance and continued material supervisory concerns. In a filing on Friday, One97 Communications said the company and its associate entity, Paytm Payments Bank Limited, have introduced additional measures to strengthen their approach towards independent operations of PPBL. "As part of this process to reduce dependencies, Paytm and PPBL have mutually agreed to discontinue various inter-company agreements with Paytm and its group entities," the BSE filing said. Also, the <keyword id="20791583" type="General" weightage="20" keywordseo="sha" source="keywords">sha</keyword>reholders of PPBL have agreed to simplify the Shareholders Agreement (SHA) to support PPBL's governance, it added. The Board of OCL (One97 Communications Ltd) approved the termination of agreements and amendment of SHA on March 1, 2024. Paytm had announced earlier that it would sign up new partnerships with other banks and take measures to provide seamless services to its customers and merchants. In a regulatory action in January, the RBI barred PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29 -- a deadline that was later extended to March 15.

Paytm shares jump 5%, hit upper circuit limit

New Delhi, Shares of One97 Communications which owns <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword> brand hit the upper circuit for the fourth consecutive session on Wednesday. The stock of the fintech major climbed 5 per cent each to Rs 395.25 and Rs 395.05 per piece -- its upper circuit limit -- on the <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword> and NSE, respectively. In the morning session, the 30-share BSE Sensex gained 27.95 points or 0.04 per cent to 73,085.35, while Nifty of the NSE slipped 15.75 points to 22,181.20. The Paytm scrip has rebounded since Friday and gained more than 21 per cent from Thursday's closing level of Rs 325. The rally in shares of One97 Communication came amid reports that the Directorate of Enforcement (ED), which has been probing crisis-hit fintech company's arm <keyword id="20403330" type="General" weightage="20" keywordseo="paytm-payments-bank-ltd" source="keywords">Paytm Payments Bank Ltd</keyword> (PPBL), has not found any breaches of the foreign exchange rules so far. However, the central agency has found certain lapses in Know-Your-Customer (KYC) norms as well as issues around generation of suspicious transaction report. Last week, ED had initiated a probe into overseas transactions by PPBL for allegedly flouting foreign exchange rules. Shares of One97 Communications surged 5 per cent on Tuesday, a day after hitting the upper circuit limit on Monday. On Friday, shares of Paytm rebounded after three consecutive days of fall amid the company coming under the regulatory scanner for various violations related to its payments bank business. One97 Communication stock has taken a beating on the exchanges this month after the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword>'s (<keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>) action against the company's arm PPBL. As per the January 31 order, the RBI asked PPBL to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29. Later, the central bank extended the deadline till March 15. One97 Communications holds a 49 per cent stake in PPBL but classifies it as an associate of the company and not as a subsidiary.

At ₹395, Paytm shares hit upper circuit for fourth straight session

New Delhi, Shares of <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword> owner One97 Communications jumped 5 per cent in the morning trade on Monday after Reserve Bank asked retial payment settlement body NPCI to examine the possibility of migrating Paytm Payments Bank customers using '@paytm' <keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword> handle to other banks. The stock of crisis-hit fintech company climbed 5 per cent each to Rs 428.10 and Rs 427.95 apiece -- also its upper circuit limit -- on the NSE and BSE. In the morning trade, the 30-share BSE Sensex benchmark slumped 288.71 points or 0.39 per cent, while NSE Nifty fell 71.55 points to 22,141.15. On Friday, the scrip of One97 Communications rallied 5 per cent and locked in upper circuit limit on the BSE. In a bid to prevent any disruptions in the payment ecosystem, the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) on Friday asked the National Payments Corporation of India (NPCI) to examine the possibility of migrating Paytm Payments Bank customers using the UPI handle '@paytm' to 4-5 other banks. The central bank came out with additional steps for the benefit of customers, wallet holders and merchants who are availing banking services from Paytm Payments Bank, which has been barred from accepting deposits and credits after March 15, 2024. As the PPBL cannot accept further credits into its customer accounts and wallets after March 15, 2024, certain additional steps have become necessary to ensure seamless digital payments by UPI customers using '@paytm' handle operated by the bank, and minimise concentration risk in the UPI system by having multiple payment app providers, the RBI said in a statement. "NPCI has been advised by the RBI to examine the request of One97 Communication Ltd (OCL) to become a Third-Party Application Provider (TPAP) for UPI channel for continued UPI operation of the Paytm app, as per the norms," it said. Meanwhile, an advisory committee, set up by One97 Communications after the Reserve Bank's action on its payments bank business, is at a stage of engagement with the company on matters related to the terms of reference for the panel. The panel's head and former chairman of <keyword id="20726918" type="General" weightage="20" keywordseo="sebi-m-damodaran" source="keywords">Sebi M Damodaran</keyword> on Sunday said, "We have been engaging with the group on matters relating to the Advisory Committee's terms of reference." He said that the panel members are external advisors and at present Paytm is engaged in dealing with the RBI. On January 31, the RBI asked PPBL (Paytm Payments Bank Ltd) to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29. Later, the central bank extended the deadline till March 15. Paytm on February 9 announced setting up of a group advisory committee headed by <keyword id="19987838" type="General" weightage="20" keywordseo="damodaran" source="keywords">Damodaran</keyword>. The committee was set up to advise the company on strengthening compliance and on regulatory matters. One97 Communications Ltd (OCL) holds a 49 per cent stake in PPBL.

Paytm shares hit upper circuit again at ₹428

Mumbai, <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> on Friday said NPCI has been asked to examine the possibility of it becoming a third party application provider for continued <keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword> operations of the Paytm app. The central bank has barred <keyword id="19907220" type="General" weightage="20" keywordseo="paytm-payments-bank" source="keywords">Paytm Payments Bank</keyword> from accepting further credits into its customer accounts and wallets after March 15, 2024. With an aim to ensure seamless digital payments by UPI customers using '@paytm' handle operated by the Paytm Payments Bank, <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> said it has asked the <keyword id="19907219" type="General" weightage="20" keywordseo="national-payments-corporation-of-india" source="keywords">National Payments Corporation of India</keyword> (NPCI) to examine the request to become a Third-Party Application Provider (TPAP) for UPI channel for continued UPI operation of the Paytm app. The request has been made by One97 Communication Ltd (OCL), which owns the Paytm brand, RBI said in a statement. For seamless migration of '@paytm' handle to other banks, the Reserve Bank of India (RBI) said NPCI may facilitate certification of 4-5 banks as Payment Service Provider (PSP) Banks with demonstrated capabilities to process high volume UPI transactions.

Reserve Bank asks NPCI to help continue operations of Paytm app

New Delhi, Shares of One97 <keyword id="20449791" type="General" weightage="20" keywordseo="communications-ltd" source="keywords">Communications Ltd</keyword>, the owner of the Paytm brand, fell 5 per cent to hit a lower circuit limit in the late morning trade on Wednesday. The stock declined 4.99 per cent to Rs 406.15 -- its lower circuit limit -- on the <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword>. It fell 4.99 per cent to hit the lower circuit limit of Rs 406.20 on the NSE. Shares of One97 Communications had hit upper circuit limits on Tuesday, Monday, and Friday. <keyword id="20004114" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="keywords">Vijay Shekhar Sharma</keyword> has stepped down as part-time non-executive chairman of <keyword id="19907220" type="General" weightage="20" keywordseo="paytm-payments-bank" source="keywords">Paytm Payments Bank</keyword> Limited and the board of the bank has been reconstituted, a filing said on Monday, adding that PPBL will commence the process of appointing a new chairman. The dramatic turn of events assumes significance in the backdrop of <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>'s crackdown on Paytm Payments Bank over persistent non-compliance and continued material supervisory concerns. Last month, in a regulatory action, the central bank barred PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29 -- a deadline that was later extended to March 15. One97 Communications Ltd (OCL) is the owner of the Paytm brand. One97 Communications holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL. Vijay Shekhar Sharma has a 51 per cent stake in the bank.

Paytm shares fall 5% to hit lower circuit limit

Mumbai, <keyword id="19969771" type="General" weightage="20" keywordseo="crypto" source="keywords">Crypto</keyword> currencies cannot be referred to as "currencies" as they have no underlying value, a central bank official said. The <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>) has been critical of new-age currencies like bitcoins, saying they pose systemic risk to the financial systems. "Crypto currencies cannot be called currencies as they don't have any underlying value," P <keyword id="19944928" type="General" weightage="20" keywordseo="vasudevan" source="keywords">Vasudevan</keyword>, an executive director at the RBI, said during a panel discussion organised by IIM-Kozhikode here. Ultimately it is a call that the government has to take on how to tackle crypto currencies, the official said. Currently, bitcoins have no legal backing in India and investors have to pay a tax on the income earned by trading in them. In the backdrop of the action against <keyword id="19907220" type="General" weightage="20" keywordseo="paytm-payments-bank" source="keywords">Paytm Payments Bank</keyword> and curbs imposed on some international card providers, Vasudevan said self-regulation can protect the fintech sector better. He also said that mechanisms could be looked at to highlight bad behaviour.

You Searched For "paytm bank" and got 8 results

Paytm can onboard new UPI users again, receives NPCI nod months after RBI restrictions

BI India Bureau

Paytm shares jump 5% on receiving government's nod for investment in Paytm Payments Services

PTI

Paytm shares jump 5%, hit upper circuit limit

PTI

At ₹395, Paytm shares hit upper circuit for fourth straight session

PTI

Paytm shares hit upper circuit again at ₹428

PTI

Reserve Bank asks NPCI to help continue operations of Paytm app

PTI

Paytm shares fall 5% to hit lower circuit limit

PTI

Crypto currencies have no underlying value, says RBI official

PTI

Popular Keywords

Buying Guides