It’s an hour of reckoning for financial services firm Paytm, often touted as the poster boy of India’s digital payments revolution. On January 31, the Reserve Bank of India (RBI) asked Paytm Payments Bank Limited (PBPL) to stop new credit and deposit operations, top-ups, fund transfers and all other banking operations by February 29. Customers will only be allowed to withdraw their balances from their accounts with PBPL.
Paytm’s payment bank hosts over 330 million wallet accounts, says financial advisory firm Macquarie. The RBI order means even existing Paytm customers cannot carry out basic banking operations like credit, deposits, fund transfers, UPI transactions, bill payments, user wallets and FASTag payments, the last a space where Paytm has nearly 17 per cent market share and some 60 million users. For FY23, Paytm had posted Rs 7,990 crore in revenues.
Denne historien er fra February 19, 2024-utgaven av India Today.
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Denne historien er fra February 19, 2024-utgaven av India Today.
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Shuttle Star
Ashwini Ponnappa was the only Indian to compete in the inaugural edition of BDMNTN-XL, a new international badminton tourney with a new format, held in Indonesia
There's No Planet B
All Living Things-Environmental Film Festival (ALT EFF) returns with 72 films to be screened across multiple locations from Nov. 22 to Dec. 8
AMPED UP AND UNPLUGGED
THE MAHINDRA INDEPENDENCE ROCK FESTIVAL PROMISES AN INTERESTING LINE-UP OF OLD AND NEW ACTS, CEMENTING ITS REPUTATION AS THE 'WOODSTOCK OF INDIA'
A Musical Marriage
Faezeh Jalali has returned to the Prithvi Theatre Festival with Runaway Brides, a hilarious musical about Indian weddings
THE PRICE OF FREEDOM
Nikhil Advani’s adaptation of Freedom at Midnight details our tumultuous transition to an independent nation
Family Saga
RAMONA SEN's The Lady on the Horse doesn't lose its pace while narrating the story of five generations of a family in Calcutta
THE ETERNAL MOTHER
Prayaag Akbar's new novel delves into the complexities of contemporary India
TURNING A NEW LEAF
Since the turn of the century, we have lost hundreds of thousands of trees. Many had stood for centuries, weathering storms, wars, droughts and famines.
INDIA'S BEATING GREEN HEART
Ramachandra Guha's new book-Speaking with Nature-is a chronicle of homegrown environmentalism that speaks to the world
A NEW LEASE FOR OLD FILMS
NOSTALGIA AND CURIOSITY BRING AUDIENCES BACK TO THE THEATRES TO REVISIT MOVIES OF THE YESTERYEARS
