Paytm is looking to migrate UPI payments to four banks and is eyeing TPAP status before March 15. This would help Paytm settle UPI transactions once it gets the third-party app provider licence, reports suggested.
Paytm said PPBL's future business would be led by a reconstituted board, which would be led by ex-Central Bank of India Chairman Srinivasan Sridhar and retired IAS Debendranath Sarangi, among others
Paytm target price: Bernstein said it would have liked to see more details such as what merchants need to do to continue using these payment solutions, if any (a re-KYC).
The RBI is expected to issue some clarification in the Paytm case, considering its user base and reach. Financial services secretary Vivek Joshi hinted at the move, adding that the RBI had taken the present step in the interest of consumer protection.