The Directorate of Enforcement is probing potential violations of forex laws linked to entities using Paytm Payments Bank. More stories around the fintech in todays ETtech Morning Dispatch.
In an attempt to address regulatory concerns, Paytm founder and CEO Vijay Shekhar Sharma, along with the firm s executives, met officials of the Reserve Bank of India (RBI) on Monday. This and more in todays ETtech Top 5.
The Reserve Bank of Indias decision Wednesday to terminate the nodal accounts of One 97 Communications Ltd and Paytm Payments Services Ltd could have far reaching implications on India s digital payments ecosystem, multiple industry executives said.
Data from last year, sourced from asset management companies, showed that on an average SIPs through platforms such as Groww, PhonePe and ET Money ranged between Rs 1,500 to Rs 2,500 against Rs 5,000 for traditional firms.
The UPI revolution has found global admirers, with the UAE, France, Singapore, Bhutan, and Nepal opening up to the payment system and allowing its use. It is becoming a global favourite with volume of transactions worth $1.7 trillion in the 2022-23 fiscal year