PAYTM Payments Bank essentially asked to shut shop.
Afaik here are the few implications
This is eerily reminiscent of Razorpay debacle. Something similar has even happened to AmEx at some point in India.
Appears as though RBI has sensed something that has alerted them to it.
Very bad. This was my everyday bank account for small transactions. Easy to remember account number also
And not once in 3-4 years did I have a failed transaction. Their servers are always functional and fast
Wait what? So what will PayTM be effectively doing if UPI/deposits/credits aren’t allowed?
Isn’t this everything they do or am I over reading
After the recent RBI mandate to banks and NBFCs against unsecured personal loans, the lenders have pulled back their hands from digital lending. My company has already started facing the impact. Tomorrow onwards we won't be able to disbu...
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 ...
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.
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