RBI's action against Paytm Payments Bank explained
The RBI said the Paytm Payment Bank's continued material supervisory concerns warranted further supervisory action.
Source: hindustantimes.com
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Paytm results: Paytm parent records seventh straight annual loss in 2019-20
Synopsis The operator of India's largest fintech startup cut its expenses by 20% to Rs 5,861 crore in 2019-20, though revenues fell marginally to Rs 3,350 crore. ETBFSI Mumbai:Paytm’s parent One 97 Communications has cut its losses by 28% to Rs 2,833 crore in 2019-20, on the back of curtailed expenses, regulatory filings accessed by ET through business intelligence platform Toffler showed. The Noida-based One97’s expenses came down by 20% to Rs 5,861 crore in the reporting fiscal against a total expense of Rs 7,254 crore incurred by the fintech giant in FY19, as per the disclosures. At th...
Source: indiatimes.com