In a big blow for the Vijay Shekhar Sharma founded fintech, the Reserve Bank of India has barred Paytm Payments Bank from offering all banking services after February 29. This and more in todays ETtech Top 5.
While many founders continue to hope for the issue to resolve, others said the move will have a ripple effect on the ecosytem and restrict newer players from coming into the banking business.
Learn about the new changes in the IMPS online bank transaction system announced by NPCI. Transfer up to Rs 5 lakh between bank accounts without adding a beneficiary starting February 1. Simplified process with no need for tedious beneficiary details.
The National Payments Corporation of India (NPCI) has introduced a new rule that allows customers to transfer up to Rs 5 lakh without the need to add beneficiary details such as account numbers or IFSC codes.