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Paytm’s bank is in a state of suspended animation. So, what’s next?

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Paytm’s bank is in a state of suspended animation. So, what’s next?

Paytm, India's largest fintech company, has faced several setbacks in recent years. Paytm Payments Bank, a subsidiary of One97 Communications, had a services agreement with its parent company that was not approved by the Reserve Bank of India (RBI), due to concerns over data privacy and the bank's dependence on the parent company. The RBI later fined Paytm Payments Bank for non-compliance with certain Know Your Customer (KYC) norms. In January 2025, the RBI barred the bank from adding funds to accounts, wallets, and other services, threatening the overall company's existence. Paytm's stock has also suffered a significant decline since its IPO. The company is now looking to retain its merchants and focus on regulatory compliance to survive and regain trust.

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Vinay M
Vinay M

Its January of 2024 not 2025

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8 months ago

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