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Congress's 'Chinese link' dig at Modi govt after RBI's Paytm Payments Bank order

RBI barred Paytm Payments Bank from accepting deposits after February 29. The Congress questioned the government s monitoring of Paytm s Chinese links. | Latest News India

Paytm's Plight: India's fintech pioneer has lost more than its bank

Investors question if Paytm Payments Bank can thrive without regulator s trust. The Reserve Bank of India s ban on deposit or credit transactions has frozen the bank. Paytm can switch fintech customers to another institution but the ban signals regulatory concerns. The RBI s ban follows persistent non-compliances and material supervisory concerns. It also mandates termination of accounts of One 97 Communications and Paytm Payments Services. Confidence in Paytm s mainstream business and banking partners may be affected. Paytm s goal to turn profitable may be delayed. The investment case for Paytm weakens.

Congress flags 'Chinese links' of Paytm Payment Bank following RBI action: 'PM Modi brought only chaos…'

The Reserve Bank of India (RBI) has directed Paytm Payments Bank to stop accepting deposits or top-ups in any customer accounts from 29 February. Customers will be allowed to withdraw or utilize balances up to their available balance.

Warburg Pincus Reshuffles Leadership in Asia to Tap Growth

Warburg Pincus Reshuffles Asia Leadership Team to Tap Growth