Login

News on Medial

Everything About Paytm's Crisis

Inc42Inc42 · 7m
Everything About Paytm's Crisis

The Indian fintech company Paytm has seen a significant drop in its shares following actions taken by the Reserve Bank of India (RBI). The RBI has barred Paytm Payments Bank from accepting deposits, credit transactions, or top-ups in customer accounts. It has also stopped the bank from providing other banking services, such as UPI facility and fund transfers, after February 29, 2024. Paytm has experienced a decline in its shares, reaching an all-time low on the stock exchange. The company's competitors, including HDFC Bank, PhonePe, and Google Pay, have made efforts to convince Paytm merchants to switch to their platforms. The Enforcement Directorate has been investigating lapses at Paytm, and there have been reports of forex violations against Paytm Payments Bank. Paytm shares have faced consecutive declines, prompting the company to meet with the RBI officials and seek resolutions.

2
View Source

Comments

More Like this

'Won't matter if OpenAI disappears', Microsoft CEO Nadella reportedly said on OpenAI crisis

'Won't matter if OpenAI disappears', Microsoft CEO Nadella reportedly said on OpenAI crisis

Kevin O'Leary, the 'Mr. Wonderful' from Shark Tank, Sounds the Alarm A Looming Financial Crisis Threatens Small Business Owners

Kevin O'Leary, the 'Mr. Wonderful' from Shark Tank, Sounds the Alarm A Looming Financial Crisis Threatens Small Business Owners

Paytm has a way out of the payments bank mess, but it's a treacherous path

Paytm has a way out of the payments bank mess, but it's a treacherous path

Five must-read stories on Byju's crisis this week

Five must-read stories on Byju's crisis this week

Paytm's China link that made authorities sit up

Paytm's China link that made authorities sit up

Loot On Streets As Fintechs & Banks Battle For Paytm’s Merchant Base

Loot On Streets As Fintechs & Banks Battle For Paytm’s Merchant Base

SVB's collapse drove 26K customers to Mercury in 4 months

SVB's collapse drove 26K customers to Mercury in 4 months

Online deceits and AI are making the truth a casualty of war

Online deceits and AI are making the truth a casualty of war

X promises 'highest level' response on posts about Israel-Hamas war. Misinformation still flourishes

X promises 'highest level' response on posts about Israel-Hamas war. Misinformation still flourishes

US is turning its back on the world with or without Trump

US is turning its back on the world with or without Trump

Download the medial app to read full posts, comements and news.