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Tag: Paytm

  • Industry Titans Rally Behind Paytm, Signaling Unwavering Support for India’s Digital Economy Vanguard |

    The backing from such a broad spectrum of industry leaders not only reflects the trust and reliance placed in Paytm’s services but also emphasizes the company’s significant contributions to the technological and financial landscape of the country.

    Pankaj Vermani, CEO of Clovia, took to X (formerly Twitter) to affirm his company’s long-standing partnership with Paytm, emphasizing the continued trust and reliance on the company’s services.

    Pankaj Vermani, CEO of Clovia, voiced his company’s enduring partnership with Paytm on X (formerly Twitter), highlighting their reliance on Paytm’s services. “We have been long-term partners with Paytm using multiple services from wallet payments on our platform to Paytm ads for tactical campaigns. They continue to be our partners of choice, now and in times to come!,” he tweeted. https://twitter.com/pankajvermani/status/1754503198830698979

    Deepak Shenoy, Founder and CEO of Capitalmind, criticized the severity of the regulatory actions against Paytm Payments Bank. He contrasted this with the handling of past banking crises, where regulatory bodies facilitated smoother transitions.

    “Can’t believe RBI would just go destroy a bank like this. When Yes Bank had much bigger issues they took over and got other banks to take over. To protect the system they ensured a smooth transition in 15 days,” Shenoy said in his tweet. “But now they prefer to let all the bank’s customers, vendors and partners suffer and create a confidence issue unnecessarily, and force the business down…” he continued.

    https://twitter.com/deepakshenoy/status/1752739142126174532?s=20

    Abhishek Asthana, Co-founder of Hood and Founder of Ginger Monkey, supported Paytm by urging a more balanced approach to regulatory oversight, emphasizing the consequences of such decisions on investor sentiment and the continuity of fintech businesses.

    Meanwhile, Ashneer Grover, Founder of BharatPe, highlighted the regulatory environment’s effect on the fintech sector’s growth and called for governmental intervention to foster a regulatory landscape that encourages innovation while protecting consumers.

    The collective support from industry leaders for Paytm highlights its indispensable role in India’s digital transformation and underscores the necessity of an enabling regulatory environment that promotes innovation, growth, and financial inclusion. As Paytm continues to advance, bolstered by steadfast support, it reaffirms its status as a pioneering force in India’s fintech scene, ready to navigate challenges and emerge stronger.

  • Enforcement Directorate Finds No FEMA violation In Paytm Payments Bank Inquiry, Say Reports

    The Enforcement Directorate has found no evidence of Foreign Exchange Management Act (FEMA) violations by Paytm Payments Bank Ltd (PPBL), as per reports. This comes amid media speculating about FEMA violations by the company in the past week.

  • MNCs’s Employee Loses Rs 80 Lakh To Man She Met On Matrimonial Site |

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  • Paytm Tentative Timeline To Restart Loan Sanctioning Ends Today, February 14 | Companies News

    New Delhi: The tentative timeline shared by fintech firm Paytm to resolve operational challenges coming in the way of its lending business and restart sanctioning of new loans is ending on February 14.

    One97 Communications President and Chief Operating Officer Bhavesh Gupta in a company conference call on February 1 had said that the company will not be issuing new loans for “maybe a couple of weeks” before resolving operational challenges posed due to RBI restriction Paytm Payments Bank Limited (PPBL).

    The central bank, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29.

    While the lending business of Paytm is not linked with PPBL, there are around 10-15 per cent of Paytm merchants, which are around 60,000-70,000 merchants, who are estimated to have autopay mandate set up through their PPBL account.

    Paytm needs to migrate repayments linked to PPBL to other banks to avoid disruption in repayments.

    “We will not be originating loans for maybe a couple of weeks before we solve for the operational challenges, and then we go back to normal,” Gupta had said.

    In the December quarter, the company distributed loans worth Rs 15,535 crore comprising merchant loans, personal loans, and postpaid loans.

    The total number of unique users who have taken a loan through Paytm increased by 44 lakhs over the last 1 year to 1.25 crore.

    Paytm distributed Rs 3,579 crore merchant loans, Rs 4460 crore personal loans, and Rs 7,496 crore postpaid loans in December 2023.

    An email query sent to Paytm in this regard elicited no immediate reply.

  • Dealing with unfair pageant from world tech giants: Home tech gamers to Parliament panel

    Via PTI

    NEW DELHI: Most sensible executives of 8 home tech corporations, together with Paytm founder Vijay Shekhar Sharma and OYO founder Ritesh Agarwal, deposed prior to a parliamentary panel on Thursday and mentioned they face unfair pageant from large tech corporations.

    All through the assembly with most sensible executives of 8 generation corporations, together with Zomato, Swiggy, Flipkart, and MakeMyTrip, have been additionally wondered about what steps they have been taking to deal with the troubles of distributors on their platforms, resources mentioned.

    The Parliamentary Status Committee on Finance, chaired by way of BJP chief and previous Union Minister Jayant Sinha, has been having a look into more than a few sides of pageant on the market, particularly regarding generation majors.

    Previous, Sinha informed PTI that the panel has determined to invite representatives of more than a few generation platforms, e-commerce gamers and gaming entities to look prior to it quickly, and they’re going to be basically requested about their marketplace behaviour.

    Representatives of meals supply platforms Swiggy and Zomato, e-commerce participant Flipkart, cab aggregator Ola, lodge aggregator OYO, virtual finance company Paytm, MakeMyTrip and All India Gaming Affiliation are those that had been referred to as by way of the panel, Sinha mentioned.

    In line with a realize to be had at the Lok Sabha website online, the committee will pay attention “perspectives of representatives of associations/ business stakeholders at the matter Anti-Aggressive Practices by way of Large-tech firms” on July 21.

    Resources mentioned that Paytm founder Vijay Shekhar Sharma, Ola CFO Arun Kumar, Make My Travel Chairman and Leader Mentor Deep Kalra, Zomato CEO Deepinder Goyal, OYO founder and Crew CEO Ritesh Agarwal attended the assembly.

    Senior officers of Swiggy, Flipkart and All India Gaming Federation additionally attended the assembly, they mentioned.

    Lately, there were proceedings about alleged anti-competitive techniques of more than a few generation platforms and corporations.

    The Festival Fee of India (CCI) is already probing more than a few circumstances, particularly within the virtual area, following proceedings of alleged unfair industry practices.

    On April 28, the CCI made a presentation about pageant sides on the market to the parliamentary panel.

    After that assembly, Sinha had mentioned the panel had “a very good set of discussions” with officers from the Ministry of Company Affairs, Ministry of Electronics and Knowledge Era and CCI.

    NEW DELHI: Most sensible executives of 8 home tech corporations, together with Paytm founder Vijay Shekhar Sharma and OYO founder Ritesh Agarwal, deposed prior to a parliamentary panel on Thursday and mentioned they face unfair pageant from large tech corporations.

    All through the assembly with most sensible executives of 8 generation corporations, together with Zomato, Swiggy, Flipkart, and MakeMyTrip, have been additionally wondered about what steps they have been taking to deal with the troubles of distributors on their platforms, resources mentioned.

    The Parliamentary Status Committee on Finance, chaired by way of BJP chief and previous Union Minister Jayant Sinha, has been having a look into more than a few sides of pageant on the market, particularly regarding generation majors.

    Previous, Sinha informed PTI that the panel has determined to invite representatives of more than a few generation platforms, e-commerce gamers and gaming entities to look prior to it quickly, and they’re going to be basically requested about their marketplace behaviour.

    Representatives of meals supply platforms Swiggy and Zomato, e-commerce participant Flipkart, cab aggregator Ola, lodge aggregator OYO, virtual finance company Paytm, MakeMyTrip and All India Gaming Affiliation are those that had been referred to as by way of the panel, Sinha mentioned.

    In line with a realize to be had at the Lok Sabha website online, the committee will pay attention “perspectives of representatives of associations/ business stakeholders at the matter Anti-Aggressive Practices by way of Large-tech firms” on July 21.

    Resources mentioned that Paytm founder Vijay Shekhar Sharma, Ola CFO Arun Kumar, Make My Travel Chairman and Leader Mentor Deep Kalra, Zomato CEO Deepinder Goyal, OYO founder and Crew CEO Ritesh Agarwal attended the assembly.

    Senior officers of Swiggy, Flipkart and All India Gaming Federation additionally attended the assembly, they mentioned.

    Lately, there were proceedings about alleged anti-competitive techniques of more than a few generation platforms and corporations.

    The Festival Fee of India (CCI) is already probing more than a few circumstances, particularly within the virtual area, following proceedings of alleged unfair industry practices.

    On April 28, the CCI made a presentation about pageant sides on the market to the parliamentary panel.

    After that assembly, Sinha had mentioned the panel had “a very good set of discussions” with officers from the Ministry of Company Affairs, Ministry of Electronics and Knowledge Era and CCI.