Paytm receives approval from RBI to onboard new UPI users
indiatvnews.comEarlier this year, the Reserve Bank of India (RBI) directed Paytm to halt several of its financial services due to repeated regulatory violations. Following the ban, Paytm requested approval from the National Payments Corporation of India (NPCI) in August.
India's leading financial services firm, Paytm, recently announced that it has been granted approval by the National Payments Corporation of India (NPCI) to onboard new unified payment interface (UPI) users. This development comes as a relief for Paytm after its banking unit faced a ban ordered by the central bank earlier this year. Paytm had submitted a request to NPCI in August, and the approval has now been granted.
The ban on Paytm's banking unit was initiated by the country's financial regulator in January due to ongoing compliance issues. This move had raised concerns about the future of Paytm's digital payments business and had a significant impact ...
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