Key Points
Uday Kotak. on Wednesday said regulators should not be too conservative and cautious but should respond fast to "accidents" in the..
If you are wanting to grow fast, there will be need for good regulations..
Paytm Payments Bank Ltd, an entity promoted by One97 Communications Ltd, faced regulatory actions by RBI for failure to comply with host of regulatory norms, including Know Your Customer (..
Last week, RBI advised customers as well as merchants of PPBL to shift their accounts to other banks by March 15, giving 15 more days to the beleaguered entity to close most of its operations, including deposit and credit transactions...
Kotak said RBI has done a phenomenal job as a regulator in the last few years, and ensured financial stability along with good macro economic management despite the coronavirus pandemic...
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Paytm Bank gets a knock on the door from ED
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Paytm shares hit fresh upper circuit limit after RBI's advice to NPCI
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Regulators need not be too conservative, should respond fast to 'accidents' in financial sector: Uday Kota
22, Feb, 24Uday Kotak, Founder Director of Kotak Mahindra Bank, advocates for regulators to respond swiftly to financial sector accidents rather than being overly conservative. Speaking at an AIMA event, he emphasizes the need for good regulations to facilitate growth, acknowledging that some accidents may occur but highlighting the importance of prompt correction.
ED questions Paytm officials, gets documents on RBI action: Report
15, Feb, 24The ED is conducting preliminary probe before deciding to formally launch an investigation into alleged irregularities under the Foreign Exchange Management Act
RBI bars Paytm’s services due to compliance concerns
31, Jan, 24The Reserve Bank of India, in a notification issued on Wednesday, has barred Paytm from offering all basic payment services, including Unified Payments Interface, IMPS, Aadhaar-enabled payments and bill payment transactions, effective February 29.
Crushing curbs on Paytm Payments Bank
01, Feb, 24RBI bars deposits, top-ups at Paytm Payments Bank as FASTag and wallet will become inoperable
Paytm's Plight: India’s fintech pioneer has lost more than its bank
01, Feb, 24Investors question if Paytm Payments Bank can thrive without regulator's trust. The Reserve Bank of India's ban on deposit or credit transactions has frozen the bank. Paytm can switch fintech customers to another institution but the ban signals regulatory concerns. The RBI's ban follows persistent non-compliances and material supervisory concerns. It also mandates termination of accounts of One 97 Communications and Paytm Payments Services. Confidence in Paytm's mainstream business and banking partners may be affected. Paytm's goal to turn profitable may be delayed. The investment case for Paytm weakens.
RBI asks Paytm Payments Bank to stop almost all services after Feb 29
31, Jan, 24Mumbai, Jan 31 (PTI) In a major action against Paytm Payments Bank (PPBL), the Reserve Bank on Wednesday directed the lender to stop accepting deposits or top-ups in in customer accounts, wallets, FASTTags and other instruments after February 29. However, any interest, cashbacks, or refunds may be credited back to customers anytime. The direction follows […]
Paytm Payments Bank says no FEMA violations, it doesn’t have foreign remittances licence
26, Feb, 24Paytm crisis: The ED asked RBI to provide details of the companies and individuals who may have violated FEMA norms on platforms other than Paytm Payments Bank.
Congress flags ‘Chinese links’ of Paytm Payment Bank following RBI action: ‘PM Modi brought only chaos…’
01, Feb, 24The Reserve Bank of India (RBI) has directed Paytm Payments Bank to stop accepting deposits or top-ups in any customer accounts from 29 February. Customers will be allowed to withdraw or utilize balances up to their available balance.