The Reserve Bank directed Paytm Payments Bank (PPBL) to stop accepting deposits after March 15. RBI has directed NPCI to examine Paytm’s request to become a Third-Party Application Provider for UPI. NHAI removed PPBL from the list of authorized banks for selling Fastags. Read on to know more about the development on the matter:
The Reserve Bank of India (RBI) has taken steps to ensure seamless digital payments for UPI customers using the @paytm handle, as Paytm Payments Bank won’t accept further credits after March 15, 2024. The RBI advises NPCI to examine Paytm’s request to become a Third-Party Application Provider for UPI. @paytm handles must migrate seamlessly to …
NPCI chief Dilip Asbe emphasized the importance of compliance for long-term success in the fintech space. He discussed recent regulatory actions against Paytm Payments Bank and highlighted growth opportunities in digital payments. Asbe mentioned NPCI’s interest in international expansion and the potential of AI in the payment industry.
Software solutions provider firm Trust Fintech Ltd on Friday said it has raised Rs 5.42 crore in a pre-IPO funding round. Earlier this month, the company filed preliminary papers for the Initial Public Offering (IPO) and the shares are expected to be listed on NSE Emerge in March.
Meanwhile, it is launching new solutions leveraging AI. Razorpay has developed a fraud detection tool that will detect a fraudulent transaction through pattern detection. If it fails to detect a fraud, Razorpay will pay the merchant.
FTX invested $500 million in Anthropic in 2021, and currently holds a 7.84% stake in the company, according to court documents. The company had sought permission to sell the shares as part of its court-supervised effort to liquidate its assets and repay customers who lost access to their accounts when the company collapsed in 2022.
Given the regulatory ambiguity and the lack of regulators’ confidence in crypto, it’s important for the crypto industry to proactively regulate itself through a self-regulatory organisation (SRO), without waiting for government intervention. An SRO initiative, even without regulatory backing, would help the industry to generate public confidence and demonstrate its intent to develop a responsible.
The loans that Credit Fair will lend will have a principal of minimum Rs. 10,000 and a minimum tenure of six months with new to credit borrowers and borrowers who have a credit score. “It could be good if there is more clarity on P2P lending from the regulator like if digital lending guidelines apply …
Credit Fair secures a license for peer to peer lending from RBI Read More »
Know-your-customer, or KYC, regulations aren’t easy anywhere. But fintech adoption in India has done more than just open the floodgates to financial inclusion. The cloud has added complexity — and risk — to the landscape. And now, media reports suggest that more nonbank intermediaries may expect a rap on the knuckles. Just what has made …
Paytm RBI Ban: Indian fintech is fast, furious — and fraudulent? Read More »
One 97 Communications Limited (OCL), that owns financial services major Paytm, has received immense support from the merchant community across the country. The company pioneered QR code, Soundbox, and online financial services, facilitating the growth of street vendors and small businesses by enabling them to accept mobile payments. Read more:
