Topic: Paytm

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.

Paytm informed stock exchanges in a filing that the company was not engaged in any such discussion.

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.

Paytm didn't say what agreements were being terminated. Payments bank agreed to simplify shareholders’ agreement to 'support Paytm Payments Bank‘s governance, independent of shareholders'.

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

PPBL has reconstituted its Board of Directors with the appointment of Ex-Central Bank of India Chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi among others.

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.