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February 15, 2024
Paytm has now lost about Rs 27,000 crore or 57% of its value in the last 11 days
February 7, 2024
Paytm founder and chief executive officer Vijay Shekhar Sharma Tuesday met finance minister Nirmala Sitharaman in the backdrop of the banking regulators action against the fintech firm. He had met top RBI officials on Monday. A comprehensive investigation could be initiated in view of the reference after ascertaining relevant details, said one of the persons.
February 6, 2024
On January 31, 2024, the RBI imposed major business restrictions on Paytm Payments Bank, including a ban on accepting fresh deposits.
February 4, 2024
One97 Communications Ltd (OCL) has refuted media reports suggesting an investigation by the Enforcement Directorate (ED). The Reserve Bank of India (RBI) on Wednesday ordered the payments bank unit of One 97 Communications, Paytm, to stop accepting fresh deposits in its accounts or popular wallets from March.
February 4, 2024
Paytm Payments Bank faces uncertainty as customers and competitors adjust plans. Regulator intervention may be necessary to resolve issues related to banks taking over accounts. Parent company One 97 Communications and its loan sourcing business with non-banking financial companies will also be affected. Shriram Finance and other partners are reconsidering their relationships with Paytm.