Indian fintech Paytm wins a major regulatory battle days after key investor exit

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Indian fintech giant Paytm has received long-awaited approval from the country’s central bank to operate as a payment services provider for online merchants — just days after one of its Chinese investors sold its entire stake — marking a key regulatory breakthrough after months of setbacks and scrutiny.

On Tuesday, the Reserve Bank of India granted “in-principle” approval to Paytm’s Payment Services unit to operate as an online payment aggregator, parent company One97 Communications said in its filing (PDF) to Indian stock exchanges….



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Indian fintech Paytm wins a major regulatory battle days after key investor exit


Indian fintech giant Paytm has received long-awaited approval from the country’s central bank to operate as a payment services provider for online merchants — just days after one of its Chinese investors sold its entire stake — marking a key regulatory breakthrough after months of setbacks and scrutiny.

On Tuesday, the Reserve Bank of India granted “in-principle” approval to Paytm’s Payment Services unit to operate as an online payment aggregator, parent company One97 Communications said in its filing (PDF) to Indian stock exchanges….



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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