Welcome to News Discussion's Private Community

So glad I withdrew my 100 rupees before this happened

Software Engineer

So glad I withdrew my 100 rupees before this happened- 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

Product Manager

Welcome to Personal Finance's Private Community

https://m.economictimes.com/tech/startups/p2p-lenders-to-stop-liquid-funds-as-rbi-peers-into-business/articleshow/108686922.cms


https://twitter.com/ravihanda/status/1771021456287088858

P2P Lending firms self regulating to stop instant withdrawals from 1-Apr

- MobiKwik's Xtra investors are struggling with withdrawals after a policy change by lending partner Lendbox.
- Users claim the change was made without prior notice and investments were transferred without their knowledge.
- The RBI's new rules on P2P lending are cited as the reason for the halt in anytime withdrawals.
- MobiKwik states that withdrawals will now be available on the 12th of every month.
- Other P2P platforms like BharatPe's 12% Club and Liquiloans are also facing similar issues. 

 Source: [Entrackr](https://entrackr.com/2024/09/mobikwik-xtra-suspends-anytime-withdrawals-draws-flak-from-users/)

MobiKwik Xtra Faces Backlash Over Sudden Withdrawal Policy Change

Journalist

Before people jump into validation mode, I thought let’s do something ulta (opposite)🙃

Pick one of your worst investment mistakes (it can be a stock, RE, ULIP, relationx blah blah) 

My inputs - During 2021/22 real estate boom, I picked a real estate stonk (india bulls) as I thought it’s a growing sector and company will become beneficiary after all the sins they have committed in past. Bam! Over next 5 months stock crashed ~50% 🥲

FriYaY is Investment day on GV!

How to get out of a useless scam of a ULIP/endownment life policy whic gives a cagr of less than 5% over a 20 year term ? What will be the loss in terms cancellation of such a policy ?

Hdfc life sanchay plus is a scam

Analyst

Missed the last COVID rally but this time it has rewarded.

How many of you are invested in Bitcoin?

My biggest regret is not to invest in Bitcoin in 2012 when I got introduced to it by a good friend!

Bitcoin is a must in portfolio

This sh*t app  deducted money from my account , I have recieved money from my father and they deducted more than 200-300 rupees from what I have received,  my message is showing that I have received full money what he sent , this is happening for the second time within a month , and second thing is that my transaction history doesn't show what money i have recieved in green as it used to know . Once my friend send some thousand bucks and they deducted some hundreds of rupees , i thought of it as some technical glitch but now it's happening for the second time , if there is any Paytm employee reading this then please tell me what's this any hw can I get my money back

Paytm is totally s**t

I came to Bangalore 2 weeks ago. this is my first time visit to Bangalore. One fine day I was casually walking to my PG after having a tea at chai house. in the middle of a road a person with his newborn baby and wife approach me with folding hands. He asked me if I speak hindi. I nodded, then he said Iam from Maharashtra and he came here for job, but his master has kicked him out and not given him salary. He has no money for food and to travel back. He asked me to give him 300. I sensed it might be scam but being an emotional guy I thought 300 is not a big deal. I said I don't have cash but I can pay via phonepe. he showed me his qr on mobile. A thought ran in my mind does he has no one who he can call and ask for online money if he has working smart phone. when I started typing the amount 300 he said sir 300 for one person, pls pay for my wife too. I said I only have this much money only. I paid and walked off quickly. I think I'm scammed but it could be a genuine case too. 

tell me guys have you faced/heard this before. this might probably aware someone in future.

Is this a new scam?

Software Developer

Faced this issue recently- amount was transferred by someone to my brothers gpay account: however it did not go to his primary account but went to another account attached with gpay . But how is this possible it should go to the primary account as per my experience . 

Primary account- x
Secondary account -y
Third account-z 

But it went to z instead of x

No idea - trying to understand

Customer success

I got alloted the IPO. It's my first time. I had researched about the company and looked good to me. After reading a lot(and overthinking!) had decided to go for it.

The share is listing tomorrow soo what are the sentiments and predictions of listing price?😛

Motison Jewellery IPO

Business analyst

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.

Going to buy Paytm Stock

As market was down I put Today morning almost 2 lakhs in stocks, now I am in loss of  almost 12k - 18k it fluctuated, any suggestion when to withdraw?

India is winning for sure. Hard for Pakistan to pull a winner today. It is done and dusted. Wish me luck. Diamond hands 💎💎💎🙌

India vs Pakistan: Picks and Predictions

Lawyer

Okay, so this happened to me last year. I was approached by a college alumni (got my number from college alumni group) who told me he had a side business going on which was leading him to earn more money than his corporate job and that he was going to leave the corporate for his “business”.

I was initially not interested but he was insistent and also I was looking to explore some options (may be my naïveté) that I asked him more and so he setup a call with his senior to explain more about this “business”.

Now this senior gave all sorts of gyaan regarding how to reach financial independence and picking up on the general mindset of how to make more money. They asked to create a list of 10 things that I desired the most at the point of time which could be solved with more money. I complied thinking it was a good exercise (again, I was a big fool). Now I was connected with another senior who gave all sorts of gyaan regarding how I could make more money and lead to financial independence.

Please note, during all this time I was constantly asking what the business idea was and how it would be achieved but got no response on the details and only white washing regarding how I should be prepared to do anything to achieve my dreams.

Now, it was revealed that I would need to put in 5L as investment to get bigger returns. Since I did not have that money in handy, I was suggested to get a personal loan through their agents. Also not to inform this to parents because they won’t understand this stuff and get “worried”. Luckily I did went with their suggestion and informed my parent about it. Thinking it was a startup idea, I got the investment from my father through an OD in my name.

Now we get onto a call two days later, where they reveal the company QNet and makes me purchase 5L of stuff from their website and explained the business model which was to get other people from your knowing to buy products from this company and get commissions on the sale.

Continued……

So glad I withdrew my 100 rupees before this happened

Discover More

Indian Startups on

by Coy Lee

Zomato

Paytm gets a shock from RBI

Personal Finance on

by Coy Lee

Stealth

P2P Lending firms self regulating to stop instant withdrawals from 1-Apr

News Discussion on

by Kendall Lee

Grapevine

MobiKwik Xtra Faces Backlash Over Sudden Withdrawal Policy Change

Personal Finance on

by Matilda Hyrum

Amazon

FriYaY is Investment day on GV!

Bangalore on

by Kendall Hyrum

Research and Analysis Wing

Hdfc life sanchay plus is a scam

Personal Finance on

by Jordon Gabriel

Student

Bitcoin is a must in portfolio

Misc on

by Kalan Hyrum

Student

Paytm is totally s**t

Misc on

by Blair Lee

ANGEL ONE LIMITED

Is this a new scam?

Misc on

by Jordon Carmden

Unemployed

No idea - trying to understand

Personal Finance on

by Aaron Gabriel

Amazon

Motison Jewellery IPO

Personal Finance on

by Kendall Vernon

Zomato

Going to buy Paytm Stock

News Discussion on

by Kendall Nadeen

TCS

As market was down I put Today morning almost 2 lakhs in stocks, now I am in loss of almost 12k - 18k it fluctuated, any suggestion when to withdraw?

Mumbai on

by Jordon Gabriel

Cyril Amarchand Mangaldas

India vs Pakistan: Picks and Predictions

Misc on

by Kalan Lee

Fintech Startup

Pyramid scheme scam