The Reserve Bank of India had few days ago issued a crucial directive to Paytm Payments Bank (PPBL) ordering the lender to cease taking deposits or top-ups in any user accounts, wallets, FASTTags, and other instruments after February 29.
Paytm Set for Small Win as India Close to Approving Investment bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The investment allows Paytm to beef up its arm which processes online transactions. While the investment is less than $12 million, an approval would signal Paytm is still in the governments good books even as the countrys banking regulator has tightened its grip on the company.
As per reports, government's stance towards the investment has softened, particularly following a reduction in the stake held by Paytm's Chinese shareholder, Ant Group Co.