It can continue to be the UPI third-party application just like Google Pay and Amazon Pay, but this will depend on the National Payments Corporation of India; If PPBL loses its licence, it will need another sponsor bank, which will be held responsible for PayTM’s actions
Paytm s regulatory snag feels like a never-ending nightmare. Other payment companies under the scanner should definitely be sweating! Even as Paytm is scrambling to fix compliance issues, will it be enough to appease the RBI gods? The clock is ticking on new user growth, and rivals are circling like sharks. So, what s next? Anirban Chowdhury gets into the details of this hot potato with ET’s fintech expert Pratik Bhakta and ET’s banking editor MC Govardhana Rangan and Srinath Sridharan, Independent financial services expert. Tune in to the latest episode of The Morning Brief podcast!
The sudden rise in active job seekers is seen as the compound effect of two major events: Paytm laying off 1,000 employees due to AI automation and RBI restricting PPBL from offering almost all major banking services.