Can someone summarise it 😅
Basically paytm payments Bank shutting down Port your fastags asap
Oh wow
Corporate governance issues are so high! Every month there’s RBI ban on one or the other thing 😂
Yes. Fintechs lack massively in compliance. They need to hire a competent team of subject matter experts. Most of the folks want to focus on delivering the product but in a highly regulated entity, this oversight could cost you even losing the license.
PAYTM Payments Bank essentially asked to shut shop.
Afaik here are the few implications
That stock is about to crash so fucking hard. Thank god i got out. The crappiest IPO of this decade.
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...
How do MF manage such shocks? Damn, didn't know that so many MF had exposure. I think many of them may not buy more if other payment players start poaching merchants.
Intresting to see SBI payments reacting to news.
