Consultant

I wish Paytm stock has a big freefall with this announcement

Product Designer

Welcome to News Discussion's Private Community

Paytm Bank to wrap up all operations by mid March!

Paytm Bank to wrap up all operations by mid March!- Grapevine

Welcome to Indian Startups's Private Community

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

Paytm gets a shock from RBI

That stock is about to crash so fucking hard. Thank god i got out. The crappiest IPO of this decade.

Growth Manager

Product Manager

QR, Soundbox, POS moved to Axis
Consumer business still a question mark, but deadline extended to 15 March

Expecting stock to hit a few upper circuits in the week to come

Ting, ting, tiding

Can we move on from Paytm maro back to Paytm karo?

Business Analyst

Welcome to Fintech India's Private Community

Got to know today that Paytm is planning to shut down a couple of products. Accompanied by 30-40% layoffs accros teams and verticals and reducing the tech force to less than half, it feels like Vijay is done with the payment business. There is no clarity on the PA license either and VP level folks are being asked to put in papers.

Paytm on maintenance

Product Owner

Just went through RBI's note and developments as per major news houses, so Paytm would no longer be an app which used to be in almost every indian's phone march onwards. such a downfall of a firm who enjoyed their best time post covid.

Bhyi anyone knows how can i withdraw/utilise my food wallet from Paytm. Got 1.5k bucks there, don't wanna give a penny to Vijay.. any ideas?

On a serious note, i'm gonna miss paytm. it was an great app, atleast their wallet was the best ever, better than upi since the txn can't be unsuccessful. also they brought one of a kind revolution in e payments. 
RIP Paytm🫡

Death of paytm

Program Manager

As per latest press release OCL, will completely move its services to other bank and will only bank with other bank.

Cutting ties with their own subsidiary is something which is unheard of. 

I am sure paytm payments bank will be back after some cool off period and some fines. I guess this is all done to manage their stocks 📉

https://www.bseindia.com/xml-data/corpfiling/AttachLive/02a4a3a1-8cc0-4cde-a35f-d4f70ca98377.pdf

Paytm (One 97 communication limited) distances itself from Paytm Payments Bank Limited

Controversial take below:
No doubt that PayTM has been a poster-boy of Indian fintech startups. And Vijay Shekhar Sharma has been an exceptional entrepreneur: building PayTM into a homegrown brand and a multi-billion dollar public company. To that extent, PayTM does deserve a lot of respect from the entire startup community and all of us.

But in current context, they were found to be persistently non-compliant on certain regulations: regulations which are not new and which exist for the protection of consumer interest and overall trust in the ecosystem. That PayTM failed to adhere to them, is squarely on them. That is just oversight or just negligence on their part, and they are facing the consequences of their (in)action.

Why then this show of support for PayTM, who clearly is at fault here? Is it just sympathy for VSS and other PayTM employees who see a lot of their wealth dissipate overnight? Is it just teenage rebellion spirit against the "system" and believing startups are above them? Or is it just accepting that it is okay to cut corners, almost with the guilt of knowing we have erred similarly too?

I get the respect for the company and VSS, I do. But to present them as heroes who have been hard done by regulators, is a grossly misleading narrative.

PayTM, not a victim

Investor

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

What happens to so many paytm fasttag

Computer Operator

Another lower circuit :/

Corporate Strategist

Welcome to Software Engineers's Private Community

What's happening in the company? Is there a comeback plan in action? Are you guys working on shifting the existing merchants to a different bank? 
Give us some insider info👀

Paytm folks?

Backend Engineer

As title says , there are so many narratives going around 

Could you give some insight how the management is working upon it

PayTM employees , could you tell us some insider information

Software Developer

Given what RBI has gone today is effectively shut down 60-70% of Paytm’s business, to survive, Paytm will end up doing mass layoffs of a scale that we haven’t seen before in India. And potentially with limited severance (not as generous as what swiggy or Big tech has been doing)
What would this mean for the rest of job market? So much unemployment in high earning folks, limited new jobs, means very tough competition for each opening and extremely bad situation in terms of appraisals and hikes too.

Paytm layoffs? Impact on job market

The Paytm receives yet another blow from the RBI

Paytm stonks 📉

Will Vijay Shekhar Sharma be able to revive the company in next 6 months or Paytm will lose its existence among upi customers ???

Paytm Bank to wrap up all operations by mid March!

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