PayTM Payments Bank is now allowing customers to open Fixed Deposit accounts. One can get an FD in Paytm Payments Bank with an investment of as little as Rs 100.
One97 Communications Ltd, the parent company of Paytm, reported another loss for FY21 even though the quantum was lower than in the previous year. Revenue and expenses fell during the year.
by Swarajya Staff - Jun 3, 2021 07:39 AM
(Unsplash)
Snapshot
While digital payments are largely a success story in India, there are some issues which demand immediate attention.
The Bengaluru-based Smahi Foundation of Policy and Research has published a report on Indiaâs digital payment sector and the revolution which changed the transaction system in the country.
As per Smahi, which is a non-profit organization, Indiastackâsuch as Aadhar, UPI, e-KYC, and e-signature, is paving the way for a massive world-leading âDigital Payments Revolutionâ.
The entry of well-funded and aggressive technology-first enterprises (which were formerly dominated by banks) has made digital payments commonplace in India, laying a strong basis for digitalization and cross-selling of other financial services and products.
Fintech giant Paytms parent company One97 Communications Limited is headed for a $3 billion initial public offering (IPO), the highest ever market debut in India, and while the market leader has established its presence across a plethora of .
In recent weeks, several lenders including HDFC Bank and State Bank of India, had officially flagged transactions relating to the purchase of cryptocurrency, warning customers of curbs, including permanent closure of accounts