Topic: Paytm

The commercial shows how the Paytm voicenote, which is heard after every successful payment, gets a Center Fruit twisṭ̣ adding fun to routine purchases.

Directors & those managing the finances of OCL & its affiliated firms, who have been served the notices, have to appear before the ED investigating officers, it is learnt.

It started as a side hustle of posting restaurant menus & reviews. 14 yrs later, Zomato, now synonymous with food delivery, also boasts quick commerce, going out, and B2B supply arms.

The administrative warning was related to two transactions with an unapproved amount of 3.24 billion rupees ($38.8 million) and 360 million rupees each.

The license, granted by the country's payments authority, came as Paytm Payments Bank will cease to operate on 15 March, following regulatory action due to non-compliance with certain norms.

If venture capital-backed funds lose money because of their inability to check for misappropriation of funds by a founder, should the government care?

Customers will not be able to deposit money into their account with Paytm Payments Bank. The bank will also not accept any credits or deposits other than interest, cashbacks, sweep-in from partner banks, or refunds after March 15, 2024.

We need to move away from the current one-size-fits-all framework to a risk-based approach. Until then, every fintech will be saddled by some regulation it is potentially violating.

Paytm has lost nearly 50% of its market value, resulting in roughly $3 billion of its shareholder wealth. It hit a record low of Rs 380.10 earlier in the day.

Paytm has lost about 43% of its market value since the RBI told Paytm Payments Bank on Wednesday to stop accepting fresh deposits in its accounts or popular wallets from March.