Compliance holds key to maintaining integrity of any company. The recent Paytm Payments Bank’s debacle is a perfect example of how a company failed to adhere to the guidelines of the Reserve Bank of India (RBI), particularly, the KYC procedures. Despite repeated warnings, the bank failed to take necessary steps. While the RBI has not …
On Feb. 16, as Paytm Payments Bank users were going through the Reserve Bank of India’s FAQs, answers on Paytm Payments Bank Wallet and the money in it stood out. Users can continue to use, withdraw, or transfer to another wallet or bank account up to the balance available in the wallet, even after March …
The Reserve Bank of India (RBI) had last month restricted Paytm Payments Bank Limited (PPBL) operations, citing “persistent non-compliances and continued material supervisory concerns in the bank” in the audit report. The RBI also asked the PPBL to stop accepting new customers, and deposits, credit transactions, or top ups in customer accounts, wallets, FASTags. Paytm …
Traders’ body CAIT on February 4 issued a cautionary advisory to traders to switch from Paytm to other payment options for business-related transactions following RBI curbs on Paytm wallet and bank operations. “The Reserve Bank of India has imposed certain restrictions, prompting CAIT to recommend that users take proactive measures to protect their funds and …
Digital payments platform Paytm has partnered with Delhi Metro Rail Corporation (DMRC) to launch QR code-based ticketing for metro travel. With this new feature, commuters can get a mobile QR ticket on the Paytm app under the ‘Metro’ section, by simply mentioning the station of entry and destination station on the day of the journey. …
Popular domestic fintech platform, Paytm has announced a Travel Carnival for users who are looking forward to travelling during the upcoming long weekends. The Paytm Travel Carnival Salewill be live from September 22-24 for users. With a long weekend around the corner (September 30 to October 2)Paytm has come up with a sale for users …