Key Points
Bengaluru: IndiasPaytmand itspaymentsbankunit have mutually agreed to discontinue variousintercompanyagreementsin the process to reduce dependencies, the embattledpaymentsfirm said on Friday...
Thepaymentsbankagreed to simplify the shareholders agreement to support (PaytmPaymentsBanks) governance, independent of its shareholders, thecompanysaid...
The move came days after Sharma stepped down as non-executive chairman and board member of thepaymentsbankunit, as part of a major overhaul that follows a centralbankclampdown...
The ReserveBankof India had askedPaytmPaymentsBankto wind down operations by March 15 due to persistent compliance issues and supervisory concerns, triggering a meltdown inPaytms stock...
The action against the unit followed concerns including inadequate customer identity checks and a lack of arms-length distance from parentcompanyPaytm, sources previously told Reuters...
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