Fintech News

Slice’s UPI first account offers a UPI handle (@slice) and a virtual account. This move transitions Slice from being exclusively a credit product company to a payments-first entity.

January witnessed a 1.5% increase in UPI transaction volume, totalling 12.20 billion, and a 1% rise in transaction value compared to December, emphasizing a consistent growth trend.

Paytm top leadership addressed employee concerns about the future course of action during townhall meetings held at Paytm Payments Bank, One 97 Communications. While the detailed reasons for the RBI’s decision were not disclosed, the One97 Communications team has been primarily tasked with creating backend systems, which can be used to transfer the payment settlement …

Paytm crisis: Focus on moving business to other banks, leadership tells staff Read More »

Congress spokesperson Supriya Shrinate asked whether the ED was “satisfied” with cases against political leaders, alleging that 95 per cent of its cases were against politicians. She also asked if the data of users of Paytm payments bank was safe and was not being shared with the BJP. Read more:

Paytm top leadership addressed employee concerns about the future course of action during townhall meetings held at Paytm Payments Bank, One 97 Communications. While the detailed reasons for the RBI’s decision were not disclosed, the One97 Communications team has been primarily tasked with creating backend systems, which can be used to transfer the payment settlement …

Paytm to staff: focus on moving business to other banks Read More »

RBI has found thousands of Paytm Payments Bank accounts without proper identification, and has suspected money laundering. RBI has informed Enforcement Directorate, as well as ministry of home affairs and prime minister’s office. Paytm Payments Bank have denied allegations and asserted that some merchants using their platforms have been investigated.

Paytm Payments Bank faces uncertainty as customers and competitors adjust plans. Regulator intervention may be necessary to resolve issues related to banks taking over accounts. Parent company One 97 Communications and its loan sourcing business with non-banking financial companies will also be affected. Shriram Finance and other partners are reconsidering their relationships with Paytm.

Paytm denied any investigation by the Enforcement Directorate (ED) against the company and its Founder, CEO for money laundering, soon after Revenue Secretary Sanjay Malhotra on Saturday said that the ED will probe Paytm Payments Bank if any fresh charges of fund siphoning are found.

The Confederation of All India Traders (CAIT), has asked small traders and businesses to switch from the Paytm app in order to mitigate financial losses posed after the uncertainty of its continuous operations due to the RBI imposed restrictions on Paytm Payments Bank. The advisory comes after a day when Paytm founder Vijay Shekhar Sharma …

Trader’s body CAIT asks business to shift from Paytm after RBI’s ban Read More »

In a separate development, the Chairman of the State Bank of India, Dinesh Khara in an exclusive interaction with ETBFSI, on the Paytm crisis said SBI is reaching out to Paytm customers through its subsidiary SBI payments.