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Paytm Announces Job Cuts and Asset Reduction Amid Record Sales Decline

Ut World May 22, 2024 0

Indian fintech pioneer Paytm has announced plans to cut jobs and trim non-core assets following its first-ever sales decline, driven by the fallout from a regulatory probe. The company’s net losses swelled to 5.5 billion rupees ($66.1 million) for the March quarter, and revenue dropped Continue Reading

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Paytm Forms Strategic Partnership with Axis Bank to Ensure Merchant Transaction Continuity

Ut World February 17, 2024 0

In response to the Reserve Bank of India’s (RBI) directive, Paytm, a leading fintech player, has announced a strategic partnership with Axis Bank to guarantee uninterrupted merchant transaction services. The collaboration emerges amidst the operational curtailments imposed on Paytm Payments Bank by RBI, necessitating a transition of accounts to alternative banking Continue Reading

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RBI Intensifies Scrutiny on Banks Post-Paytm Payments Bank Lapses

Ut World February 16, 2024 0

In the wake of the Reserve Bank of India’s (RBI) recent crackdown on Paytm Payments Bank for regulatory failures, the Financial Intelligence Unit (FIU) has identified approximately 50,000 bank accounts across various banks lacking proper Know Your Customer (KYC) documentation, raising alarms over potential money laundering activities. According to a report by The Continue Reading

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Paytm Nears Acquisition of E-commerce Startup Bitsila Amid Payments Bank Crisis

Ut World February 9, 2024 0

In a strategic move to expand its e-commerce footprint, digital payments giant Paytm is reportedly in the advanced stages of acquiring Bengaluru-based startup Bitsila. The deal, as per a Moneycontrol report, is expected to close within the next week. Bitsila, established in 2020 by Dasharatham Bitla and Sooryah Pokkali, operates as a seller-side platform on […]Continue Reading

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RBI Imposes Restrictions on Paytm Amid Compliance Concerns; ED Investigation Denied

Ut World February 5, 2024 0

In a recent turn of events, Paytm has publicly refuted claims of undergoing an investigation by the Enforcement Directorate (ED) on charges of money laundering. This denial follows closely on the heels of the Reserve Bank of India’s (RBI) decision to impose restrictions on Paytm, preventing the financial technology firm from acquiring new deposits or […]Continue Reading

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Child Rights Activist Files Police Complaint Against Telegram, PhonePe, and Paytm for Allegedly Facilitating Sale of Child Sexual Abuse Material

Ut World November 15, 2023 0

In a significant development on Children’s Day, Hyderabad-based child rights activist Sunitha Krishnan has filed a police complaint against messaging app Telegram, and digital payment platforms PhonePe and Paytm. Krishnan, the founder of Prajwala, an NGO combating sex trafficking, accuses the platforms of abetting the sale of Child Sexual Abuse Material (CSAM) and Continue Reading

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Five Leading Start-ups Who Overcame Early-Stage Business Bottlenecks

Ut World May 22, 2023 0

Starting a business is an exciting journey, but it often comes with numerous challenges and hurdles. Many start-ups face early-stage bottlenecks that can hinder their growth and success. However, some Indian start-ups have managed to overcome these obstacles and emerge as industry leaders. In this blog post, we will explore five such Indian start-ups that […]Continue Reading

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Paytm’s Vijay Sharma Got “Resounding Vote” From Shareholders To Stay

Ut World August 22, 2022 0

In a vital test of investor trust, the billionaire founder of Paytm passed unharmed after a strong majority of shareholders voted to keep him in charge of the fintech innovator that had one of the worst market debuts in Indian history. Among the matters deliberated upon during the company’s annual general meeting, Vijay Shekhar Sharma’s […]Continue Reading

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Har Ghar Tiranga, Har Haath Paytm: Shareholder’s Tagline For Payment App

Ut World August 19, 2022 0

Paytm CEO Vijay Shekhar Sharma offered a few updates from the company’s annual general meeting, which was held virtually this afternoon. Sharma is facing a vital test of investor trust. Mr. Sharma tweeted that a stakeholder at the crucial meeting said, “Har ghar tiranga, har haath Paytm (tricolour at every house, Paytm in every hand)”. […]Continue Reading

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Paytm CEO’s Goal to Deliver India’s Largest-Ever IPO Backfires

Ut World November 19, 2021 0

Vijay Shekhar Sharma brushed away tears of pleasure as he recalled his climb from “commoner” to CEO of a digital payments behemoth that recently completed India’s largest-ever IPO. Before striking the opening gong at the Bombay Stock Exchange at 10 a.m. local time on Thursday, the founder and CEO of One 97 Communications Ltd., operator […]Continue Reading