Rbi

In a strategic move, India has introduced its Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, expanding the cross-border reach of digital payments. The announcement was made by the Ministry of External Affairs on February 12, marking a significant development in India's financial connectivity with its neighboring countries.

Manju Agarwal stepped down from the board of Paytm Payments Bank on February 1 citing personal commitments, according to a filing with the exchange.

Government scrutiny intensifies over Chinese investment in Paytm Payments Services Ltd (PPSL) as regulatory hurdles and ownership changes prompt a thorough examination, while associated entities face Reserve Bank restrictions and compliance issues.

Paytm announced on Friday its plans to establish an advisory committee dedicated to addressing compliance and regulatory issues, just a week after the RBI instructed its banking arm to phase out operations.

RBI proposes a shift from traditional OTP to a principle-based framework for digital transaction authentication, aiming to enhance security amidst growing digital transactions and vulnerabilities.

Market data reveals a decline in daily app downloads for Paytm on the Google Play Store, while rival PhonePe experiences an increase. The shift follows regulatory concerns surrounding Paytm Payments Bank (PPBL).

HDFC Bank has announced a hike in its Marginal Cost of Funds-Based Lending Rates (MCLR) by up to 10 basis points (bps) across select tenures. Here's how it impacts you

In the announcement, RBI Governor Shaktikanta Das said that the Monetary Policy Committee (MPC) remains vigilant regarding food inflation to ensure that the benefits gained are not eroded.

In the previous MPC meeting on December 8, the RBI chose to keep key rates unchanged for the fifth consecutive time. The committee, consisting of three RBI members and three external members, unanimously decided to retain the benchmark repurchase rate at 6.5 percent.

During the meeting with the Finance Minister Nirmala Sitharaman, Paytm CEO Vijay Shekhar Sharma reportedly elucidated the company's stance concerning the issues raised by the RBI.

While both ED and FIU are probing matters related to the payment gateway under anti-money laundering provisions, Paytm asserted that neither the company nor its founder faces investigation by central agencies for money laundering.

In their letter to the RBI and the Finance Minister, a group of startup founders rallying behind Paytm underscored the broader implications of the regulatory action, emphasizing its potential to cast a negative shadow on India's business environment and global reputation. 

Recruitment services firms have reported a surge in interest from Paytm employees exploring new opportunities, particularly in tech and sales roles.

The Reserve Bank of India (RBI) has expressed concerns over potential money laundering and lapses in Know Your Customer (KYC) procedures by Paytm Payments Bank. The regulatory scrutiny follows multiple violations

The Reserve Bank of India's (RBI) recent clampdown on Paytm Payments Bank Ltd (PPBL) has left users with numerous questions about the continuity of services offered by the popular digital payments platform.