One 97 Communications, the parent company of India’s leading digital payments platform Paytm, reported a widening of its consolidated net loss to $66.1 million in the quarter ending […]
India weighs delaying caps on UPI market share in win for PhonePe, Google Pay
India’s mobile payments regulator is likely to extend the deadline for imposing market share caps on the popular UPI payments rail by one to two years, sources familiar […]
India’s central bank cracks down on Kotak Mahindra Bank over IT, risk management lapses
India’s central bank on Wednesday ordered Kotak Mahindra Bank to immediately cease onboarding new customers through its online and mobile banking channels, and to stop issuing fresh credit […]
Fintech CRED secures in-principle approval for payment aggregator license
CRED has received the in-principle approval for payment aggregator license in a boost to the Indian fintech startup that could help it better serve its customers and launch […]
India scrambles to curb PhonePe and Google’s dominance in mobile payments
The National Payments Corporation of India (NPCI), the governing body overseeing the country’s widely used Unified Payments Interface (UPI) mobile payment system, is set to engage with various […]
Sachin Bansal’s fintech Navi seeks $2B valuation in its first major external fundraise
Flipkart co-founder Sachin Bansal is in talks to raise capital for his newer startup, Indian fintech Navi. Bansal is talking to investors to raise at a valuation of […]
India’s Paytm secures third-party app license ahead of bank unit curb
The National Payments Corporation of India, the firm that built the eponymous UPI rail in the country, approved Paytm’s application to participate in the payments ecosystem as a […]
Vijay Shekhar Sharma steps down from Paytm Payments Bank board
Vijay Shekhar Sharma, founder and majority owner of Paytm Payments Bank, has stepped down from the board of the troubled unit days after the Indian regulator signalled continuity […]
India’s central bank extends some Paytm Payments Bank restrictions deadline to March 15
India’s central bank extended the deadline for some of the business restrictions it’s imposing on Paytm’s Payments Bank to March 15 from February 29, giving the Indian financial […]
Jio Financial says not in talks to acquire Paytm’s wallet business
Reliance Industries-spin off Jio Financial Services said Monday evening that it is not negotiating with Paytm to acquire its wallet business, quashing “speculative” media reports as the Noida-headquartered […]