Kiara Advani
OCL shareholders fully approve its related party transactions with Paytm Payments Bank
OCL and PPBL material related party transactions got over 71 per cent approval from shareholders, with over 26 crores votes showing as 'abstained' as they are related party members. As per regulations, related party members can either abstain or vote against the resolution. The strong approval to the resolution reinforces the confidence and constant support of all shareholders towards the company.
RBI banned Paytm Payments Bank from taking new customers as it was leaking data to Chinese firms: Report
The Paytm Payments Bank Limited (PPBL) has been barred from onboarding new customers by the RBI as it allowed data to flow into servers of Chinese-based entities. This violation was found by the RBI during an annual inspection, as per a report by Live Mint. The PPBL also failed to properly verify its customers, the report further says.
Paytm CEO arrested, later released on bail for rash driving
Paytm CEO Vijay Shekhar Sharma was arrested by the Delhi Police for allegedly ramming into a senior police official's car in February and later was released on bail, a senior official confirmed the incident on Sunday. Delhi Police Spokesperson Suman Nalwa told that the incident took place on February 22 in south Delhi' Malviya Nagar area.
RBI directs Paytm Payments Bank to stop acquiring new customers, orders IT probe
The Reserve Bank of India (RBI) on Friday directed the Paytm Payments Bank Ltd (PPBL) to stop taking new customers with immediate effect. This action has been taken on the basis of “certain material supervisory” issues, as per the RBI press release.
India is likely to promote UPI, Rupay to de-risk itself
"We may see the Government of India move further ahead with PLI schemes and provide more sops/opportunities for companies to invest in new age areas such as EV, clean energy (renewables and green hydrogen), robotics, AI, electronics, battery storage, semiconductors, etc", it added.
Paytm Payments Bank issues 7 mn Visa cards in FY21, aims to ramp up card offerings to drive financial inclusion
India's homegrown Paytm Payments Bank has announced that it has issued seven million Visa debit cards through its platform in FY'21. The Bank has overachieved its target of issuing one million Visa cards in FY'21, driven by the strong adoption of innovative products developed by the bank and the acceptance of digital payments in India.With this, the Bank continues to drive financial inclusion in India by enabling users with digital payments and access to financial services.
Goldman Sachs says Paytm's current share price is a compelling entry point, ICICI Securities issue Buy rating
Analysts believe Paytm's ESOP costs will gradually reduce and are currently at par with other listed tech cos in India as well as globally ICICI Securities report said that by FY26, Paytm's monthly transacting users are likely to double. Paytm, India's leading digital payments and financial services, continues to get 'Buy' calls from top brokerages.
LIC set for a massive listing on the bourse, Here are India's Top 10 IPOs ever
Life Insurance Corporation of India is all set to issue its eagerly-awaited Initial Public Offering (IPO). LIC plans to sell 5 percent of its stake via the public offer. This has been touted as India’s largest IPO which has been predicted to fetch anywhere between Rs 60,000 crore to Rs 70,000 crore as per reports. This will make LIC the largest company in India by market capitalization. Amid this IPO frenzy, here’s a list of India’s top 10 IPOs issued ever:
Paytm logs new record in lending business, strengthens payments leadership
Paytm spokesperson said, "Paytm is witnessing a broad growth across our platform as we continue to register increased adoption of our lending products, Paytm Postpaid (BNPL), merchant loans and personal loans. We are also continuously expanding our offline payments business, with more devices being deployed across the country. ."
Goldman Sachs, Morgan Stanley, BofA remain bullish on Paytm, as company reports high top line growth
The company's income from payment services to merchants jumped by 117 per cent to Rs 585 crore, constituting 40 per cent of total revenues in the quarter ending December 2021 compared to the same quarter of the previous year. EBITDA losses reduced to Rs 393 crore, excluding a one-time ESOP expense cost of Rs 390 crore recorded in Q3 FY 2022 from the grant of 26.6 mn Employee Stock Option (ESOPs).
Advertisement