Stay updated with breaking news from Ant Group. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Over a decade ago, Vijay Shekhar Sharma transformed India’s digital payment landscape with Paytm. The recent RBI crackdown on its associate payments bank may, however, have put the brakes on the rapid rise of one of India’s most valued fintech unicorns
The company is unleashing potential with insider confidence and strategic buybacks
The investment allows Paytm to beef up its arm which processes online transactions. While the investment is less than $12 million, an approval would signal Paytm is still in the governments good books even as the countrys banking regulator has tightened its grip on the company.
As per reports, government's stance towards the investment has softened, particularly following a reduction in the stake held by Paytm's Chinese shareholder, Ant Group Co.
SoftBank sold a majority of its stake in India's Paytm before regulatory scrutiny by the central bank caused the firm’s shares to slump, Bloomberg reported.