Paytm

2024 - 2 - 1

India's Paytm Faces Major Setback as RBI Orders Payment Bank Closure

Paytm - RBI - Vijay Shekhar Sharma

India's popular digital payments company, Paytm, is in turmoil as the RBI orders its payment bank to halt operations. The CEO remains optimistic amid challenges.

India's digital payments firm, Paytm, faces a crisis as the Reserve Bank of India (RBI) directs the closure of its payment bank subsidiary, causing a 20% plunge in its market value. CEO Vijay Shekhar Sharma expresses confidence despite the setback, assuring partnerships with banks. Collaborative efforts from stakeholders show support for Paytm's CEO and the company's future. The sudden halt of Paytm's banking unit raises concerns about compliance and data flows, impacting its stock price significantly. Despite challenges, Paytm aims to continue operations beyond the tumultuous period, emphasizing the importance of regulatory compliance over technology innovation.

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Image courtesy of "The Business Times"

India orders Paytm payments bank to stop conducting business (The Business Times)

THE Reserve Bank of India (RBI) on Wednesday (Jan 31) ordered Paytm Payments Bank, a unit of One 97 Communications, to stop its popular mobile wallet ...

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Image courtesy of "Reuters"

India's Paytm shares plunge 20% after RBI curbs its payments bank (Reuters)

Indian digital payments firm Paytm lost a fifth of its market value on Thursday after the central bank ordered its payment bank subsidiary to halt its ...

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Image courtesy of "Livemint"

Paytm CEO Vijay Shekhar Sharma calls RBI action 'speed bump ... (Livemint)

On behalf of Paytm, this is more of a speed bump, but we believe in partnership of the banks and we will be able to see to the same in the next few days, ...

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Image courtesy of "Business Today"

Paytm shares hit 20% lower circuit on RBI restrictions; what Jefferies ... (Business Today)

Paytm, in a update earlier today, said it has been informed that the RBI move does not impact user deposits in their savings accounts, Wallets, FASTags, ...

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Image courtesy of "Bloomberg"

Paytm Bank Closed After RBI Had Warned of Dealings, Data Flow ... (Bloomberg)

India's banking regulator stunned the finance and tech industries by abruptly suspending much of digital giant Paytm's business late Wednesday.

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Image courtesy of "CNBCTV18"

Paytm's Vijay Shekhar Sharma calls RBI's action a "big speed bump ... (CNBCTV18)

Paytm founder Vijay Shekhar Sharma held an analyst call post the Reserve Bank of India's actions on Paytm Payments Bank during which he called the move a ...

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Image courtesy of "Inc42 Media"

Startup Stakeholders Band Together To Support Paytm CEO (Inc42 Media)

The RBI curbs on Paytm Payments Bank has led the startup ecosystem stakeholders like founders, VCs to come together in favour of Paytm CEO, Vijay Shekhar ...

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Image courtesy of "Livemint"

Paytm share price Today Live Updates : Paytm Stock Plummets in ... (Livemint)

Paytm stock price went down today, 01 Feb 2024, by -0.01 %. The stock closed at 761.1 per share. The stock is currently trading at 761 per share.

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Image courtesy of "Reuters"

Paytm: from humble facilitator to embattled fintech giant (Reuters)

One of India's most popular payments companies, Paytm , is facing its biggest crisis after the country's central bank ordered its banking unit to stop ...

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Image courtesy of "Livemint"

Warren Buffett's Berkshire Hathaway exited Paytm 2 months ahead ... (Livemint)

The transaction which happened via a bulk deal, was two months before the RBI on Wednesday ordered Paytm Payments Bank to stop accepting fresh deposits in ...

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Image courtesy of "Inc42 Media"

Paytm's Vijay Shekhar Sharma Says He Has No Margin Loans Or ... (Inc42 Media)

This comes after, the Reserve Bank of India (RBI) issued a directive, instructing Paytm Payments Bank to cease accepting new deposits in its accounts or ...

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Image courtesy of "Zee Business"

Paytm shares freeze at 20% lower circuit on RBI action; Jefferies ... (Zee Business)

Paytm share price BSE, RBI ban on Paytm Payments Bank: The Reserve Bank's action against Paytm Payments Bank follows a comprehensive system audit report and ...

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Image courtesy of "pymnts.com"

Report: Paytm Bank Closure Result of Conflicts of Interest (pymnts.com)

The Reserve Bank of India's closure of Paytm Payments Bank reportedly followed warnings about the relationship between Paytm and its banking business.

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Image courtesy of "Business Today"

Paytm will keep working beyond Feb 29: Vijay Shekhar Sharma ... (Business Today)

The RBI, in a statement, disclosed that an audit report uncovered "persistent non-compliances and ongoing significant supervisory concerns within the bank, ...

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Image courtesy of "Yahoo Finance"

India Froze Paytm Bank After Years of Warnings About Data Flows (Yahoo Finance)

(Bloomberg) -- India's banking regulator stunned the finance and tech industries by abruptly suspending much of digital giant Paytm's business late ...

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Image courtesy of "Business Standard"

Will focus on compliance first, and not technology, says Paytm CEO (Business Standard)

Paytm's Chief Executive Officer Vijay Shekhar Sharma addresses at Global Fintech Fest 2022, in Mumbai. Paytm's Chief Executive Officer Vijay Shekhar Sharma | ...

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Image courtesy of "Business Today"

Paytm shares: After 20% plunge, will the stock fall further? (Business Today)

Paytm said its marketing and financial services business are not affected due to directions towards associate company PPBL but there will be requirement to ...

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Image courtesy of "Livemint"

'Paytm captain stands strong': Indian startups founders show support ... (Livemint)

Paytm crisis: Founders of Indian startups come in support of Paytm's Vijay Shekhar Sharma after RBI orders payment bank to halt business.

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Image courtesy of "CNBCTV18"

Paytm shares see second straight 20% lower circuit, stock tumbles ... (CNBCTV18)

CNBCTV18 is India's leading financial, economic and business information source. The leading platform for business & financial news, BSE/NSE stock market ...

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Image courtesy of "The Business Times"

Paytm stock nosedives after RBI raps payments bank, loses total US ... (The Business Times)

SHARES of Indian digital payments firm Paytm tumbled to near record lows on Friday (Feb 2) after a central bank clampdown on its payments bank continued to ...

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Image courtesy of "Zee Business"

Paytm's update post-RBI action fails to assuage investors' concerns ... (Zee Business)

The massive erosion in Paytm's stock price is the result of the RBI's stringent action whereby it has prohibited Paytm Payments Bank Limited (PPBL) from ...

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Image courtesy of "The Business Times"

Paytm stock crashes for second day on RBI order, CEO seeks to ... (The Business Times)

INDIAN digital payments firm Paytm saw its shares plunge by its daily limit of 20 per cent for a second straight day after the central bank ordered its ...

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Image courtesy of "Inc42 Media"

Paytm To Work Beyond Feb 29: Vijay Shekhar Sharma (Inc42 Media)

The central bank further underlined that the steps were taken as Paytm Payments Bank was โ€œpersistent non-compliances and continued material supervisory concerns ...

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Image courtesy of "The Hindu"

Paytm app will continue to work beyond February 29 as usual: CEO ... (The Hindu)

Digital payments and services app Paytm is working and will continue to work as usual even after February 29,โ€ its CEO Vijay Shekhar Sharma said on February ...

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Image courtesy of "Inc42 Media"

Amid Payment Bank Troubles, Paytm Further Plunges 20% To Hit 52 ... (Inc42 Media)

On February 2, 2024, Paytm shares experienced a 20% decline, opening at a 52-week low of INR 487.20 on the BSE.

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Image courtesy of "afaqs"

Paytm stock drops 36% in two days owing to RBI order concerns ... (afaqs)

Paytm's NSE shares dropped 20% to Rs 487.20. According to a report on India Today, for the second straight trading session, shares of One97 Communications, ...

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