Paytm Payments Bank

From April 1, the platforms offering prepaid instruments like wallets and gift cards will have to pay interchange fees on transactions above Rs 2,000

Paytm UPI LITE brings single-click payments that never fail even when banks have success rate issues during peak transaction hours

Paytm Payments Bank Limited has gone live with UPI LITE, a feature enabled by the National Payments Corporation of India (NPCI) for multiple small-value UPI transactions, thus empowering its users

Meanwhile, Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, the Bloomberg reported

The number of loans disbursed jumped 117 per cent in December 2022 as compared to December 2021

Paytm Payments Bank has received banking regulator RBI's nod to appoint Surinder Chawla as its Managing Director and CEO, the company said in a statement on Sunday. The RBI, however, continues to bar Paytm Payments Bank from on-boarding new customers. "Paytm Payments Bank Limited (PPBL) has appointed veteran banker Mr. Surinder Chawla as its new Managing Director (MD) and Chief Executive Officer (CEO). The appointment has been approved by the Reserve Bank of India for a period of three years," the statement said. Before joining PPBL, Chawla was working with RBL Bank, where he served as Head - Branch Banking and focused on expanding the CASA base, fee revenue, and cross-selling across channels. "I am pleased to welcome Surinder to Paytm Payments Bank to drive our unwavering commitment to deepening financial inclusion and offering an exceptional mobile-first banking experience in India," PPBL Chairman Vijay Shekhar Sharma said.

Chawla is a veteran banker with over 28 years of experience across institutions such as HDFC Bank, RBL Bank, ABN Amro Bank, and Standard Chartered Bank

Shares of Paytm surged 8 per cent to Rs 535.45 apiece in the intra-day trade on Friday, before settling at Rs 537, up 7 per cent

Paytm Payments Bank says the move facilitates interoperability across all UPI-based payment apps, ensuring a superfast and seamless experience

Digital financial services firm Paytm on Tuesday said it partnered with Samsung stores to facilitate smart payments as well as its loan service through deployment of point of sale devices

The Paytm Payments Bank has not yet appointed a firm which will conduct an audit of its information technology (IT) systems, minister of state for finance Bhagwat Karad said

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Analysts expect Paytm's business to be affected owing to the ban

RBI in its letter to Paytm Payments Bank has not mentioned anything about data access but has asked the company to carry out an audit from a third party, a top official of the company said on Monday.

In an interview with Reuters, Paytm CEO Vijay Shekhar Sharma said 'there is no access of any bank customer data to anyone, any investor'

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Annual inspections by RBI found that the company's servers were sharing information with China-based entities that indirectly own a stake in Paytm Payments Bank, says a source

This is the third time that Vijay Shekhar Sharma-promoted Paytm Payments Bank (PPBL) is facing action from the banking regulator since its inception in May 2017

The ban on customer acquisition shall cripple business growth for Paytm PB, which is targeting to add half a billion customers to its fold

Here are the top headlines on Friday