#paytm payment Bank
Explore tagged Tumblr posts
Text
Paytm’s UPI User Onboarding Approval: Implications for the Digital Payments Landscape
In a significant development for the fintech sector, Paytm has received the green light from the National Payments Corporation of India (NPCI) to onboard new Unified Payments Interface (UPI) users.
#digital payments#open network for digital commerce#digital payment system#digital payment#digital transformation#digital transaction platforms#rbi on paytm payments bank#india digital transactions#payments#opportunities for banking and finance lawyers#why rbi banned paytm payments bank#paytm payment bank#digital india#payment transactions#digital banking#payment#paytm payment bank banned by rbi#google pay vs google pay for merchants
1 note
·
View note
Text
Unraveling the Paytm Crisis: Implications for India's Finance and Fintech Sector
The recent imposition of limitations on Paytm Payments Bank by the Reserve Bank of India (RBI) has sent shockwaves through the fintech sector, prompting reflections on its potential impact. This crisis underscores the importance for all fintech players to prioritize regulatory adherence, with potential outcomes and lessons for finance professionals and industry participants. Key…
View On WordPress
#Fintech Sector#Indian Economy#Paytm#Paytm Crisis#Paytm Implications#Paytm news#Paytm Payment Bank#Paytm Wallet
0 notes
Text
Macquarie warns investors about the serious implications of Paytm shares after RBI ban
In the aftermath of the Reserve Bank of India's (RBI) actions against Paytm Payments Bank Ltd. (PBPL), Macquarie, a leading global research firm, analyzes the potential impact on Paytm's vast customer base and its business operations. The RBI's restrictions on Paytm shares have raised concerns about the company's lending business, technical analysis of its shares, and the strategic importance of PBPL. This article provides key takeaways from the analysis and expert opinions on Paytm's situation.
Key Takeaways
RBI's restrictions on Paytm shares have raised concerns about the company's lending business, technical analysis of its shares, and the strategic importance of PBPL.
The impact on Paytm's lending business is expected to be significant, as it generates around one-fifth of its revenue from this segment.
Paytm's share price faces crucial support at ₹700 and ₹590 apiece levels, with a hurdle at ₹810 and ₹890 apiece levels.
The restrictions on PBPL significantly hamper Paytm's ability to retain customers and sell payment and loan products, leading to potential revenue and profitability implications.
Macquarie has a 'neutral' rating on Paytm stock with a target price of ₹650 apiece, indicating cautious outlook and potential downside.
RBI's Restrictions on Paytm Shares
Impact on Lending Business
The recent RBI restrictions have sent a shockwave through Paytm's lending business, which is a critical revenue stream, accounting for over 20% of the company's revenues. Lending partners may reassess their involvement with Paytm due to heightened operational and governance risks, potentially leading to a significant downturn in business collaboration.
Paytm's ecosystem is vast, with over 330 million wallet accounts and a monthly transacting user base of 100 million. The RBI's ban on new customer onboarding could force Paytm to double down on its existing customer base to maintain its lending operations. However, this comes with its own set of challenges, as customer retention could be at risk due to the inability to offer new payment and loan products effectively.
The implications of the RBI's ban are far-reaching, affecting not just the lending business but also wallet GMV, merchant services, and Fastag GMV. This multi-faceted impact could be a key risk to earnings and valuations, and all eyes are on Paytm's management for their next move.
Technical Analysis of Paytm Shares
Following the RBI's clampdown, Paytm's stock has been on a rollercoaster. Technical analysts are eyeing key support and resistance levels to gauge the stock's next moves. The support levels are pegged at
u20AC700 and
u20AC590, which are critical for the stock to hold to avoid further downside. On the flip side, resistance is forming at
u20AC810 and
u20AC890, levels that the stock must breach to signal any potential recovery.
In light of recent events, investors are advised to closely monitor these technical thresholds as they could dictate the short-term trajectory of Paytm shares.
Here's a quick look at the recent stock performance:
| Date | Closing Price (
u20AC) | Intraday Low (
u20AC) | |------------|-----------------|----------------| | 01 Feb 2024| 761 | 608.8 |
Also read :Unlocking the Future: Exploring AI Applications in Finance and Its Impact on the Industry
The stock's plunge to 608.8 from its previous close indicates a significant bearish sentiment among investors. This level is just above the crucial support, hinting at a precarious balance for Paytm's valuation in the market.
Strategic Importance of PBPL
The Paytm Payments Bank Ltd. (PBPL) isn't just another cog in the wheel; it's the engine driving Paytm's expansive financial universe. With a staggering over 330 million wallet accounts, PBPL is a behemoth in Paytm's ecosystem, integral to the company's operations and growth. The bank's services are diverse, ranging from credit and deposits to UPI transactions and FASTag toll payments, where it boasts a significant 17% market share.
The recent RBI restrictions have thrown a spanner in the works, potentially disrupting customer retention and the sale of payment and loan products. This could spell trouble for Paytm's revenue and profitability in the long run. Here's a quick rundown of PBPL's offerings:
Credit and deposit services
Fund transfers
UPI transactions
FASTag toll payments
Bill payments
Wallet usage
The strategic role of PBPL cannot be overstated. Its ability to facilitate a wide array of financial services makes it a cornerstone of Paytm's business model. The current predicament, however, puts its pivotal role at risk, with Macquarie highlighting the challenges ahead.
RBI's Directives to Paytm Payments Bank Ltd.
Halting of Banking Activities
In a move that caught many off guard, the RBI's directive to Paytm Payments Bank Ltd. (PPBL) to cease new credit and deposit operations has sent ripples through the financial sector. This sudden halt in banking activities underscores the severity of the compliance issues faced by PPBL and raises questions about the bank's future operations.
Paytm's ability to onboard new customers and conduct basic banking operations like top-ups and fund transfers has been effectively frozen. This development could have a domino effect on the bank's revenue streams and customer trust.
Immediate suspension of new credit and deposit operations
Prohibition on top-ups and fund transfers
A halt on all other unspecified banking activities
The implications of this suspension are far-reaching, potentially impacting not just Paytm's business model but also the broader digital banking landscape in India.
Governance Issues
The RBI's intervention has cast a spotlight on the governance issues within Paytm Payments Bank Ltd. (PBPL), raising questions about the robustness of its internal controls and compliance frameworks. Investors are now grappling with concerns over management practices and their potential impact on the bank's future operations.
The SEBI has received a significant number of complaints alleging corporate governance violations across various corporations, indicating a broader issue in the industry.
For PBPL, this scrutiny could lead to a reassessment of leadership roles and a possible board reshuffle to regain stakeholder confidence.
The focus on governance is not just about adhering to regulations; it's about ensuring the long-term stability and integrity of the institution.
Market Impact
The RBI's restrictions on Paytm have sent ripples through the market, with investors and analysts closely monitoring the Paytm shares. The immediate aftermath saw a jittery response from the market, anticipating a potential drop in share price on critical financial events such as the upcoming Budget 2024.
Also read :Unlocking the Potential: Artificial Intelligence in Social Media StrategiesImmediate market response: Uncertainty and potential share price volatility
Long-term concerns: Investor confidence and regulatory compliance issues
Sectoral impact: Possible repercussions for the broader fintech and banking sectors
The market's reaction underscores the fragility of investor sentiment in the face of regulatory actions. It's a stark reminder that compliance is not just a legal formality but a cornerstone of market stability.
While it's too early to quantify the exact fallout, the market's unease is palpable. Investors are advised to stay informed and tread cautiously as the situation unfolds.
Macquarie's Analysis of Paytm Shares
Revenue and Profitability Implications
The RBI's ban on Paytm has sent ripples through the financial ecosystem, leading to potential revenue and profitability challenges in the medium to long term. Macquarie's sharp eye on the situation suggests that the implications for Paytm's revenue and profitability could be significant, urging investors to keep a vigilant watch.
Revenue and profitability are the lifeblood of any company, and for Paytm, the current predicament could spell a series of financial setbacks. Here's a snapshot of what's at stake:
A halt in onboarding new customers, impacting future revenue streams.
A comprehensive IT audit by the RBI revealing non-compliance issues.
A historical precedent of a 15-month ban on a major private sector bank, hinting at a potentially prolonged situation for Paytm.
The question on every investor's mind: Is there any end to this ban? With 22 months already lapsed since the first ban in March 2022, the RBI's continued identification of non-compliance issues does not bode well for a swift resolution.
While the exact figures are yet to be crunched, the market is bracing for a substantial revenue reduction, which could, in turn, affect the stock's performance. The longer the ban persists, the more pronounced these effects may become.
Important Levels to Look at
In the wake of the RBI's clampdown, Macquarie's scrutiny of Paytm's stock reveals several critical price levels that investors should monitor. The volatility in Paytm's share price, particularly after hitting a 20% lower circuit, underscores the importance of these markers.
Support Level: This is the price point at which a stock typically receives a high level of buying interest, preventing it from falling further.
Resistance Level: Conversely, this is where a stock often faces selling pressure, making it difficult to rise above.
Paytm's recent price action suggests that the support and resistance levels are more than just theoretical constructs; they are real inflection points that could dictate the stock's short-term trajectory.
While the exact figures are subject to change, investors are keenly watching these levels as they can signal potential entry or exit points. It's essential to stay updated with the latest technical analysis to make informed decisions.
Neutral Rating and Target Price
In the wake of the RBI's recent directives, Macquarie has maintained a neutral stance on Paytm shares, suggesting that investors should neither buy aggressively nor sell off in panic. This cautious approach is reflected in their target price, which aims to balance the current uncertainties with the company's long-term potential.
The target price set by Macquarie is a critical factor for investors to consider, as it encapsulates the brokerage firm's assessment of Paytm's fair value given the prevailing market conditions. It's important to note that this target price is subject to change based on how the situation unfolds and how Paytm addresses the regulatory concerns.
Here's a quick look at Paytm's recent stock performance:
Period
Also read :10 AI-Powered Side Hustles You Can Start Today: How to Make Money with AI
Performance
1 Day
-0.69%
1 Week
-5.57%
1 Month
18.61%
3 Months
32.93%
6 Months
18.44%
1 Year
78.10%
While the short-term volatility is evident, the long-term trend seems to be more positive, indicating resilience in Paytm's share value over time.
Expert Opinions on Paytm's Situation
Impact on Revenue
The recent RBI restrictions have sent Paytm's revenue streams into a bit of a tailspin. Paytm's lending business, which accounts for a significant chunk of their revenue (over 20%), is now facing the heat. If lending partners start pulling back due to perceived operational or governance risks, we're looking at a major hiccup in the earnings department.
But that's not all, folks. The wallet GMV, which is about 5% of the total, might need to be dialed down. And let's not forget the merchants who rely on Paytm Bank for their transactions - they represent 6% of devices and could be in for a rough ride. Plus, the FASTag GMV, which is a big deal for Paytm, is expected to take a significant hit.
In essence, the RBI's move could be a real party pooper for Paytm's revenue and valuations. We're all on the edge of our seats waiting for the management to chime in with more details.
It's a tough break, especially considering the 330 million+ wallet accounts housed in the payment bank. With a monthly transacting user base of 100 million, Paytm might still have some wiggle room, thanks to PBPL's customer base. But let's be real, it's not looking like smooth sailing ahead.
youtube
Restrictions on Existing Customers
The recent RBI directives have put Paytm's existing customers in a tight spot. Existing PBPL customers are now constrained from conducting essential banking operations such as credit, deposits, fund transfers, UPI transactions, and more. This includes the Paytm FASTag service, which, as per a recent update, will no longer function for toll payments after February 29. Customers can use up their balances but won't be able to recharge starting March 1.
The implications are far-reaching, with Paytm's FASTag holding a 17% market share and serving around 60 million users. Here's a quick rundown of the affected services:
Credit and deposit services
Also read :Unlock Your Potential with Coursera's Artificial Intelligence Courses: Master the Future of TechnologyFund transfers
UPI transactions
FASTag toll payments
Bill payments
Wallet usage
Given the severe restrictions, Paytm's ability to retain customers in its ecosystem is under serious threat, potentially leading to significant revenue and profitability challenges in the medium to long term.
RBI's Decisive Action
The RBI's recent clampdown on Paytm Payments Bank Ltd. (PPBL) is a clear signal of the central bank's commitment to stringent regulatory compliance. The halt on new customer onboarding and banking operations is a wake-up call for the fintech sector, emphasizing the importance of adhering to the regulatory frameworks.
Paytm's situation post-RBI's directive is precarious, with potential long-term effects on its business model. The company's immediate focus will likely shift towards addressing the compliance issues and regaining the trust of both the regulator and its customers.
The immediate suspension of new credit and deposit operations
A thorough audit revealing persistent non-compliance
The strategic need for Paytm to realign with regulatory expectations
This decisive step by the RBI may set a precedent for other fintech companies, prompting a sector-wide introspection on compliance and operational practices.
Conclusion
In conclusion, the recent RBI ban on Paytm shares has raised serious concerns about the company's ability to retain customers and generate revenue. With the lending business being a significant source of revenue for Paytm, the market is expected to react with selling pressure on Paytm shares. The implications of this regulatory action are expected to have a significant impact on Paytm's business operations and profitability in the medium to long term. Investors should closely monitor the developments and exercise caution when considering investments in Paytm shares.
Frequently Asked Questions
What are the implications of RBI's restrictions on Paytm's lending business?
The RBI's restrictions on Paytm's lending business are expected to impact around one-fifth of Paytm's revenue. This could lead to a market discount of Paytm's share price.
How will the RBI's directives affect Paytm Payments Bank Ltd.'s banking activities?
The RBI's directives have led to the halting of new credit and deposit operations, fund transfers, and other banking activities after February 29. This is due to non-compliance and supervisory concerns.
What is the strategic importance of PBPL in the context of Paytm?
PBPL plays a pivotal role in Paytm's ecosystem, hosting over 330 million wallet accounts. The current ban on onboarding new customers could impact Paytm's ability to retain customers and sell payment and loan products.
What are the revenue and profitability implications of RBI's restrictions on Paytm?
The restrictions could have significant revenue and profitability implications in the medium to long term. This is a key area to monitor, according to Macquarie's report.
What are the important levels to look at in relation to Paytm shares?
According to technical analysts, Paytm share price has crucial support at ₹700 and ₹590 apiece levels, while facing a hurdle at ₹810 and ₹890 apiece levels.
What is Macquarie's rating and target price for Paytm stock?
Macquarie has a 'neutral' rating on Paytm stock with a target price of ₹650 apiece.
How will the RBI's restrictions impact Paytm's revenue and existing customers?
The restrictions are expected to impact Paytm's revenue and restrict existing customers from conducting essential banking operations, such as credit, deposits, fund transfers, and UPI transactions.
What are the expert opinions on RBI's decisive action against Paytm?
Experts believe that the RBI's decisive action could have a significant impact on Paytm's lending business, revenue, and profitability. The restrictions are seen as a serious move by the regulator.
regulator.
#fastag#paytm Bank#paytm news#paytm news today’s#paytm payment Bank#paytm payments bank RBI#paytm Shares#paytm share Price#Rbi#Paytm bane#Youtube
0 notes
Text
Paytm de India obtiene aprobación para reanudar el crecimiento de pagos
Paytm, una empresa líder en servicios financieros de la India, recibió la aprobación regulatoria para reanudar la incorporación de nuevos usuarios de pagos UPI, luego de una restricción de ocho meses en muchas de sus operaciones. UPI, que procesa más de 15 mil millones de transacciones mensuales, domina los pagos en línea de la India. PhonePe y Google Pay, propiedad de Walmart, procesan alrededor…
0 notes
Text
India's Paytm's payments services arm receives government approval
BENGALURU — India’s Paytm (PAYT.NS), opens new tab has received an approval from the finance ministry to invest in its payment services business, the fintech firm said on Wednesday. One 97 Communications, popularly known as Paytm, has been under the scrutiny of India’s banking regulator and financial crime-fighting agency after the central bank ordered it to wind down its payments bank in…
0 notes
Text
The Paytm Fallout
Since its inception in 2010, Paytm has been a groundbreaker in India's fintech industry, revolutionizing digital payments and e-commerce with its innovative platform. The 2016 demonetization drive significantly accelerated its growth. By 2017, Paytm took a major leap by launching Paytm Payments Bank, aiming to integrate digital wallet convenience with traditional banking services and enhance financial inclusion for millions. However, by early 2024, Paytm Payments Bank faced a dramatic downfall.
In this post, we will dissect the factors behind the collapse of Paytm Payments Bank and offer insights into maintaining compliance in the dynamic digital finance sector.
Analyzing the Factors Behind Paytm Payments Bank’s Collapse
Paytm Payments Bank's challenges began emerging in 2016 with a lawsuit filed by PayPal at the Indian Trademark Office. PayPal accused Paytm of mimicking its logo’s color scheme and design, which significantly impacted Paytm’s reputation and revealed its lax approach towards intellectual property.
The situation further deteriorated in 2018 when an undercover video surfaced, capturing a conversation between a journalist and Paytm’s Vice President. The video alleged that Paytm was compromising user privacy by sharing private data with the Indian government. This controversy was exacerbated by claims that Ajay Shekhar Sharma, the Vice President's brother, had close ties with the ruling political party. Despite Paytm's public denials and assurances of no data sharing with third parties, the damage to its image was considerable.
The most severe blow came in 2020 when Google temporarily delisted the Paytm app from the Play Store due to violations of its gambling policies. This incident drew significant regulatory attention, exposing concerns about Paytm's oversight of financial transactions and regulatory compliance. The app’s removal underscored vulnerabilities in Paytm’s data management and security practices.
Further scrutiny revealed that Paytm Payments Bank had shared user data with Chinese entities that had indirect stakes in the company. This raised serious concerns for the Reserve Bank of India (RBI), leading to a directive in March 2022 that prohibited Paytm Payments Bank from acquiring new customers due to lapses in data security and management practices.
The final blow was delivered in January 2023 when the RBI mandated the closure of Paytm Payments Bank by February 2024. This decision resulted from findings that Paytm Payments Bank had failed to conduct proper due diligence on the sources of funds during customer onboarding, marking a severe compliance breach that further eroded investor and stakeholder confidence.
Government and Regulatory Responses
In reaction to these events, the Indian government and the RBI implemented stricter regulations. The RBI introduced enhanced measures for data privacy and security for digital payment platforms, requiring rigorous background checks before onboarding clients.
Additionally, the government imposed stricter regulations on foreign investments in Indian fintech, particularly from countries deemed security risks, to safeguard national interests and user data.
The RBI also mandated regular audits for digital payment companies, enabling prompt corrective actions to address any lapses in data security or financial management.
Maintaining Compliance in the Fintech Industry
For fintech companies, adherence to regulatory requirements is essential to maintaining trust and avoiding legal issues.
Essential Compliance Strategies Include
Strong Data Privacy Policies: Develop and enforce comprehensive data protection policies to ensure compliance with applicable regulations and safeguard user information.
Regular Audits and Compliance Checks: Perform consistent audits to verify proper financial management and adherence to security standards.
Staying Updated on Regulations: Keep abreast of evolving regulatory requirements and adjust practices accordingly to prevent legal complications and foster trust with clients and stakeholders.
The downfall of Paytm Payments Bank serves as a critical lesson for the fintech sector, highlighting the importance of rigorous compliance and the potential risks of neglecting data security. By learning from Paytm's experience, other companies can take proactive steps to ensure compliance and avoid similar pitfalls.
Compliance is not merely about following regulations; it’s about building a robust and trustworthy business that thrives within a regulated framework.
JJ Tax: Your Partner in Compliance
At JJ Tax, we specialize in managing the complexities of tax and regulatory compliance, allowing you to focus on growing your business. Let us handle your compliance needs, ensuring your company remains secure, compliant, and positioned for long-term success.
JJ Tax
1 note
·
View note
Text
Paytm Faces SEBI's Scrutiny Over Related Party Transactions with PPBL in FY22
Introduction
In a recent development, One 97 Communications, the parent company of Paytm, has received an administrative warning from the Securities and Exchange Board of India (SEBI). The issue revolves around related party transactions conducted with Paytm Payments Bank (PPBL) during the fiscal year 2022, which lacked the necessary approvals from the audit committee and shareholders.
SEBI’s Examination and Findings
According to a letter from SEBI dated July 15, an examination was conducted regarding the disclosure of financial and other information by One 97 Communications and its associate, PPBL. The examination revealed non-compliances related to related party transactions (RPTs) between the company, its subsidiaries, and PPBL.
The SEBI letter highlighted that the company had engaged in excess RPTs with PPBL, amounting to Rs 324 crore for availing services from PPBL and Rs 36 crore for rendering services to PPBL, all without due approval. Despite the company’s claim that these transactions were communicated to shareholders, SEBI found that they should have been categorized as material RPTs and approved accordingly.
Company’s Response
In response to the findings, One 97 Communications reiterated its commitment to compliance with SEBI regulations. The company emphasized its dedication to upholding the highest compliance standards and stated that it would submit a detailed response to SEBI. The fintech firm assured that it has consistently acted in line with SEBI’s guidelines.
SEBI’s Warning and Recommendations
SEBI has taken the violations seriously, issuing a stern warning to Paytm. The regulatory body advised the company to enhance its compliance standards to prevent future occurrences of such non-compliances. SEBI also instructed the company to present its letter before the board in its upcoming meeting for information and necessary corrective actions. A report on the actions taken is to be submitted to SEBI within ten days of the board meeting.
Conclusion
This administrative warning serves as a crucial reminder for companies to maintain rigorous compliance with regulatory standards. Paytm’s commitment to rectifying these issues and demonstrating the highest compliance standards will be closely monitored by SEBI and stakeholders alike.
0 notes
Text
Securities and Exchange Board of India (SEBI) has sounded an alarm for Paytm, India's leading digital payments giant, over two unapproved transactions with its subsidiary, Paytm Payments Bank. The transactions, totaling over $42 million, have raised concerns within the regulatory body.
#paytm#paytmcash#paytm news#paytm payments bank#sebi news#sebi registered investment advisor#indian news#breaking news#news#finance#world news#lawsuit#banking
1 note
·
View note
Text
Paytm gets five handles to continue UPI transactions, existing one to continue
Fintech firm One97 Communications, owner of the Paytm brand, has got five handles in partnership with four banks to continue UPI transactions, as per an update on the NPCI website.
The company's existing handle @paytm is among the five handles that users can continue using without the need to make any changes at their end.
National Payments Corporation of India (NPCI) has approved @paytm and a closed user group UPI handle @ptyes for Paytm in partnership with Yes Bank.
NPCI has also approved @pthdfc with HDFC bank and @ptsbi with State Bank of India as a partner. However, these two handles are not active immediately.
Paytm spokesperson said users can continue to use @paytm handle seamlessly without the need to make any changes at their end.
On March 14, NPCI approved a third party application (TPAP) provider permit for Paytm in collaboration with SBI, Axis Bank, Yes Bank and HDFC bank for continuity of UPI transactions for the company's users.
Paytm's UPI transactions were earlier being carried out through Paytm Payments Bank (PPBL) that has been barred by the Reserve Bank of India from accepting deposits, credit transactions, or top-ups in any customer accounts after March 15.
One97 Communications Limited (OCL) holds a 49 per cent stake in PPBL, while company's Founder and CEO Vijay Shekhar Sharma holds 51 per cent stake in the beleaguered bank.
Source : Paytm gets five handles to continue UPI transactions, existing one to continue
1 note
·
View note
Text
What Does Vijay Shekhar Sharma's Resignation Mean for Paytm Payments Bank?
Vijay Shekhar Sharma has stepped down as part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL), and the board of the bank has been reconstituted.
As one of India’s most prominent entrepreneurs, Vijay Shekhar Sharma has been at the helm of Paytm Payments Bank since its inception. However, with his recent resignation announcement, many are left wondering what this shift in leadership means for the future of this fintech giant. In this blog post, we delve into the implications of Sharma’s departure and explore how it may impact the trajectory…
View On WordPress
#anomalies&039;#FUNDING#PAYTM#Paytm Payments Bank Limited#PPBL#RBI#REGULATIONS#resignation#Vijay Shekhar Sharma#VSS
0 notes
Text
Paytm Payment Bank:पेटीएम नियामक अनुपालन के खिलाफ आरबीआई की कार्यवाही
RBI Proceedings Against Paytm Bank Regulatory Compliances The recent action of the Reserve Bank of India (“RBI”) against Paytm’s subsidiary, the Paytm Payment Bank has sent ripples across the fintech industry. The payment bank has been barred by RBI from engaging in any further activities that involve accepting deposits or top-ups in any customer account, prepaid instruments, FASTags, wallets,…
View On WordPress
0 notes
Text
ऐसा ही Paytm IPO को लॉन्च करते वक्त विजय शर्मा ने गलती की थी। जब Paytm IPO को लॉन्च किया गया था तब दिनांक 08 नोवेंबर और साल 2021 था। तब केतु की दशा व शनि का अंतर्दशा चल रही थी और मूल नक्षत्र का चौथा चरण था। केतु और शनि की युति से धन हानि होता है साथ ही साथ कोर्ट के चक्कर भी लगाने पड सकते है। ज्योतिष कार के अनुसार इन गलतियों के कारण आज यह सब विजय शर्मा को देखना पड रहा हैं।
0 notes
Text
Paytm Payments Bank app post-February 29. To address these concerns, Vijay Shekhar Sharma
In the wake of the Reserve Bank of India’s (RBI) stringent actions against Paytm Payments Bank, apprehensions have surfaced among numerous customers regarding the functionality of the Paytm app post-February 29. To address these concerns, Vijay Shekhar Sharma, the founder of Paytm, explicitly stated that the app’s operation will persist even if PPB ceases operations.
Vijay Shekhar Sharma emphasized that the recent directives from RBI are solely targeted at the operations of Paytm Payments Bank and do not affect the overall functionality of the Paytm application. It’s crucial for users to understand that Paytm and PPB are distinct entities with independent functionalities.
Madhur Deora, the President and Group CFO at Paytm, reiterated this point, emphasizing that Paytm and Paytm Payments Bank should not be perceived as a unified entity. Deora clarified that, structurally and by design, they are separate entities. PPB operates as an associate company and follows the governance principles applicable to banks, with an independent management team reporting to the board.
Despite the regulatory scrutiny on Paytm Payments Bank, Paytm, as a standalone application, will continue to provide its users with seamless services. The distinction between Paytm and its associated bank is fundamental, ensuring that the functionality of the app remains unaffected by the regulatory actions against the bank.
RBI’s Directive Against Paytm Payments Bank
The Reserve Bank of India is currently contemplating the cancellation of the operating license for Paytm Payments Bank, a subsidiary of Paytm, once the safeguarding of depositors’ funds is ensured. This decision is expected to be executed by February 29, subject to the banking regulator’s final determination.
Following the stipulated date, PPB is anticipated to restrict customers from making further deposits into their savings accounts or the widely-used digital payment wallet. However, it’s important to note that RBI has not yet reached a final decision on this matter, and further updates are awaited.
The regulatory action by RBI stems from various violations observed in the functioning of PPB. These infractions include the misuse of customer documentation rules and the non-disclosure of material transactions. Of particular concern to RBI is the large number of Paytm bank users who have not yet submitted their Know Your Customer (KYC) documents, raising red flags about potential money laundering activities.
While the regulatory landscape for PPB is undergoing scrutiny, Paytm app users can rest assured that the app’s services will continue uninterrupted. The clarity provided by Vijay Shekhar Sharma and Madhur Deora emphasizes the separation of Paytm and PPB, assuring users that the issues facing the bank do not impede the functioning of the widely-used digital payments application.
For more such News Kindly Check blogoday.com
1 note
·
View note
Text
0 notes
Text
Is Paytm Payments Bank in Trouble? Unraveling the RBI's Actions and Impact on Paytm's Future
Adapting to Change: Paytm’s Response and Future Strategies In response to the RBI’s intervention, Paytm is mobilizing efforts to navigate these challenging times. The company, known for its resilience, assures users that withdrawals are unaffected, offering a semblance of relief. Paytm, traditionally not heavily invested in direct lending, suggests it can manage the potential panic-driven…
View On WordPress
#Digital Finance#Financial Landscape#Financial Regulation#financial technology#fintech#Future Strategies#Governance#Investor Reactions#Lessons Learned#Market Sentiments#Paytm#Paytm Payments Bank#RBI#regulatory compliance#Resilience#UPI Transactions
0 notes