Customers can continue to use FASTag to pay but no further funding or top-ups will be allowed in the FASTags issued by Paytm Payments Bank after March 15. Also, the credit balance transfer feature is not available from the old FASTag issued by Paytm Payments Bank to a new FASTag obtained from another Bank.
Users and merchants must note that the Paytm app is working and will continue to do so even after March 15, 2024. On January 31, the central bank ordered Paytm Payments Bank to stop accepting any fresh deposits in its account, or popular wallet, from February 29. The deadline was further extended to March 15. …
Paytm Payments Bank March 15 Deadline: What will work and what not? Read More »
In addition to its focus on AI, Paytm is currently conducting its annual appraisal cycle, which is standard practice in the industry. “We are in the midst of our annual appraisal cycle, a common practice across companies, where performance assessments may lead to some performance or role fit-related changes,” the spokesperson continued.
Markets reacted by paring the chances of a Fed easing cycle beginning in June, with futures now pointing to a roughly 60% chance of a rate cut that month, down from roughly 74% a week ago, according to the CME FedWatch tool. A higher-for-longer rates scenario, particularly in the United States, is typically bad for …
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In September 2021, El Salvador became the first country in the world to establish Bitcoin as legal tender, earning it harsh criticism. One of the strongest critics was the International Monetary Fund, which has been negotiating a large loan with the cash-poor country. Bitcoin on Thursday hit a record high of $73,800.
Craig Wright has long claimed to have been the author of a 2008 white paper, the foundational text of bitcoin, published in the name “Satoshi Nakamoto”. The Crypto Open Patent Alliance (COPA) took Wright to court to stop him suing bitcoin developers, asking for a ruling that Wright is not Satoshi.
The license will allow customers to continue using the Paytm app for payments through the unified payment interface, after Paytm Payments Bank ceases operations by March 15, as ordered by the Reserve Bank of India. Paytm’s troubles began following regulatory action due to non-compliance with certain norms set by the country’s central bank.
The RBI had asked Paytm to close all its nodal accounts with Paytm Payments Bank by February 29. On March 1, Paytm said it had “mutually agreed” with the payments bank to discontinue various inter-company agreements to reduce dependencies. The permission will allow Paytm to offer UPI payment services through a multi-bank model.
The loan agreement envisages at Promoting Research and Innovation through Development of Fintech Institute at GIFT-City Project. The project will help establish a state fintech readiness index and develop new solutions to emerging technologies.
Paytm, formally known as One 97 Communications, owns a 49% stake in the bank which was ordered by the Reserve Bank of India (RBI) at the end of January to stop accepting credit transactions or deposits across products such as savings accounts, prepaid cards and digital wallets by March 15, following persistent compliance breaches.
