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The company has already received a mandate to implement QR/Card Machines and soundbox for more than 7,000 gram panchayats in Andhra Pradesh, in collaboration with major banks such as HDFC Bank, SBI, IDFC First Bank, and others. A direct mandate has also been received from Uttar Pradesh and Goas state department for the deployment of card machines and soundbox. ....
The extension allows PPSL to continue its online payment aggregation business while it awaits approval from the Government for past investments, in accordance with FDI guidelines ....
RBI directed the platform to continue its online payment aggregation business while awaiting government approval for past investment from the parent into PPSL. ....
The letter from RBI says that Paytm Payments Services Ltd (PPSL) can continue with the online payment aggregation business, while it awaits approval from government for past investment from One 97 Communications Ltd into PPSL as per FDI guidelines, says Paytm ....