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The Reserve Bank of India has imposed monetary penalties on two payment system operators -- Paytm Payments Bank Ltd (PPBL) and Western Union Financial Services Inc (WUFSI) -- as deficiencies were found in regulatory compliance.
As this was an offence of the nature referred to in Section 26 (2) of the PSS Act, a notice was issued to PPBL
We examine equity funding and private investment into India-based entities as well as compliance and reporting obligations for foreign enterprises.
The Reserve Bank of India has imposed monetary penalties on two payment system operators -- Paytm Payments Bank Ltd (PPBL) and Western Union Financial Services Inc (WUFSI) -- as deficiencies were found in regulatory compliance.The RBI imposed a ...
India: Ujjivan SFB initiates steps to merge with holding company Ujjivan has recently sold about 12.6 million shares to 17 domestic institutional investors at Rs210 per share. Photo: Hemant Mishra/Mint July 12, 2021 Ujjivan Small Finance Bank (SFB) on Saturday said it would initiate steps for the amalgamation of the holding company Ujjivan Financial Services Ltd with the bank. The decision to merge the holding company with itself comes after the Reserve Bank of India (RBI) allowed small finance banks to apply for amalgamation on completion of five years from the date of commencement of busine...