PayTM kyc bug led to this?

VSS need to play some nationalism card to redeem from this situation.

KYC FROM PAYTM

As title says , there are so many narratives going around Could you give some insight how the management is working upon it

Can someone explain what just happened to PayTM and if other FinTechs could be subject to something similar?

Any basic tech and internal audit can identify these lapses outright, there seems to be more to uncover.

RBI is a big bully, everybody knows that. RBI has bullied the likes of HDFC, ICICI and a lot of fintech startups. All it wants is that these folks are compliant with the rules. RBI is one of the most stringent Central banks in the world. This also ensures a lot of financial stability in the country, sometimes overdoing the regulations. Once you fix the systems and comply with RBI, business is back to usual. This has been the trend in all the notices that have been sent across to all the different companies. Paytm should be no different. Paytm has a book value of 205. In case the stock hits a few more lower circuits, in the words of Ashneer Grover, it'll be a "Screaming buy". Every good opportunity comes with a lot of risk. The primary risk here is that Paytm doesn't get its act straight and RBI at the end of February imposes the actions that are mentioned in the circular. Next line in such a case. Well the money is lost but if they fix the necessary things within time then it's going to be a jackpot. Catching falling knives is never easy, and it's bound to hurt you, but hey, "Risk He Toh Ishq He". Next lower circuit is ~487rs The one after it is ~390rs. I think anything under 500 is great price without the RBI impact. If it hits the circuit tomorrow, I'll start buying on Monday. If it doesn't, well, salary is already credited, so it's time for some risky investment.

I have a fasttag from Paytm will it continue to work or I need to apply for a new one now. If yes whats the best fasttag out there in terms of ease of recharge and usages

Was reading a thread where people were saying don't be in shock if Ambani/Reliance starts making move after RBI's action on Paytm. I initially thought it to be a meme. Now I am just curious. Is the system really fair to allow such moves by the rivals after penalising them? Or is the system that rigged to make sure their friends can get all the business to technically get the favors, funds, etc? Any thoughts on this? Whether is it too cruel and unfair that system just can't come into action to stop such moves otherwise how the startups anyway could rival the innovation that happens in the West if our own system anyway is there to cripple in such scenarios or do you think it's all fair in the name of business (you donot follow regulations, you will have to suffer eventually)? PS:- This is just to have a healthy discussion without any biases intended, with no political agenda in mind. I hope you'll keep the discussion healthy and interesting. Picture source:- stocktwits(ig)

Really ? Even after receiving multiple notifications from them ? Even after submitting false compliance reports to them on various instances ? Even after they had put monetary penalty on you for continued non-compliance with KYC norms. You don’t know what exactly went wrong. That’s great 😄👍 Links : https://www.cnbctv18.com/finance/paytm-payments-bank-rbi-crackdown-the-inside-story-18970171.htm/amp https://timesofindia.indiatimes.com/gadgets-news/paytm-town-hall-no-job-cuts-and-other-key-things-that-ceo-vijay-shekhar-sharma-told-employees/amp_articleshow/107420639.cms

PAYTM Payments Bank essentially asked to shut shop. Afaik here are the few implications 1. Stock market will react in a bad way to them 2. Worst affected are going to be FasTag users who bought from PayTM. 3. No deposits / credits allowed in any account. Withdrawal is allowed. 4. UPI not allowed after Feb