RBI has barred Paytm Payments Bank from opening new accounts or adding new subscribers with immediate effect. RBI has also directed Paytm Payments Bank to appoint an IT audit firm to conduct a comprehensive audit of its IT system. This action is based on certain material supervisory concerns observed in the bank. Paytm Payments Bank was incorporated in […]
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Paytm Payments Bank Ltd (PPBL) became the largest and fastest-growing UPI beneficiary bank in India. It becomes the first beneficiary bank in the country to achieve the landmark of over 926 million UPI transactions in a single month. Beneficiary banks are the banks of the account holder who is receiving money. Paytm Payments Bank has also gained rapid traction as
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Paytm Payments Bank has partnered with MoneyGram, a peer-to-peer remittance company to enable international fund transfer directly to Paytm Wallet. With this partnership, MoneyGram users abroad can now transfer money to any full KYC-compliant Paytm Wallet. This is MoneyGram’s first mobile wallet partnership in India. MoneyGram transactions received digitally in India currently represent about 50% of all transactions received in the
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Paytm Payments Bank on Monday said it has launched the country’s first FASTag-based Metro parking facility, in partnership with the Delhi Metro Rail Corporation (DMRC). Paytm Payments Bank will be the acquiring bank to facilitate the processing of all FASTag-based transactions for cars having a valid FASTag sticker.The parking facility is also the first to accept payment via the UPI
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