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RBI curbs on Paytm to affect FASTag, NCMC card on platform? Firm clarifies

Reserve Bank of India asked Paytm Payments Bank to stop accepting new deposits from February 29 ....

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What's next for Paytm's banking arm after India central bank clampdown

Paytm shares plunged the daily limit of 20% after the move ....

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Explainer-What next for Paytm's banking arm after India central bank clampdown?

The Reserve Bank of India (RBI) has ordered the payments bank subsidiary of Paytm to stop accepting fresh deposits in its accounts or popular wallets from March, in a major blow to one of the country's largest payments firms. Paytm shares plunged the daily limit of 20% on Thursday after the central bank's move, which could be a precursor to its licence being cancelled, said a person familiar with the matter. Following are answers to some key questions about Paytm and its payments bank. ....

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What next for Paytm's banking arm after India central bank clampdown?

Paytm: The Reserve Bank of India (RBI) has instructed Paytm s payments bank subsidiary to cease accepting new deposits, signaling a potential cancellation of its license. Paytm Payments Bank, which operates as a specialized banking entity, cannot offer credit services or facilitate fund transfers after February 29. Paytm has stated it will comply with the RBI s directions and expects an impact of up to INR 5 billion ($36 million) on its annual earnings. The move adds to regulatory concerns surrounding Paytm s business, but liquidity should not be an issue as the bank s deposits are held in government bonds and other banks. ....

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Paytm: What next for Paytm's banking arm after RBI clampdown?

Paytm shares plunged the daily limit of 20% on Thursday after the central bank s move, which could be a precursor to its licence being cancelled, said a person familiar with the matter. ....

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