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.
Walmart bought a controlling stake in Flipkart in 2018, giving it ownership of PhonePe. The company said last month it would remain a majority stakeholder in both the companies.
PhonePe, India’s leading digital payments provider with more than 175 million users, is the largest of a plethora of local start-ups that relied on Yes Bank.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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