Paytm Faces ED Scrutiny Over Fema Breaches
Paytm, India’s leading fintech company, is under investigation by the Enforcement Directorate (ED) for alleged violations of the Foreign Exchange Management Act (FEMA), according to media reports. The ED is probing whether Paytm and its associate Paytm Payments Bank (PPB) have misused foreign funds or facilitated illegal currency transactions. The scrutiny comes at a time […]
Paytm Rs 26,000 Cr Loss: The Aftermath of RBI Ban
Paytm Payments Bank Ltd (PPBL) has suffered a massive loss of Rs 26,000 crore after the Reserve Bank of India (RBI) banned it from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags after February 29, 2024. This action by the RBI, initiated on January 31, 2024, was based on a […]
SUFALAM: A New Era for Food Processing Start-Ups
SUFALAM is a two-day event that aims to foster collaboration, innovation, and growth in the food processing sector. Organized by the Ministry of Food Processing Industries (MoFPI) and the National Institute of Food Technology Entrepreneurship and Management-K (NIFTEM-K), the event brings together over 250 industry stakeholders, startups, MSMEs, financial institutions, venture capitalists, and academia. What […]
Paytm: OCL Investment Pending Govt Approval
Paytm, India’s leading fintech company, is facing a regulatory hurdle in its payment aggregator business. The company’s parent entity, One97 Communications Ltd (OCL), has not received the government’s approval for a downstream investment in its subsidiary, Paytm Payment Services Ltd (PPSL), which operates as a payment aggregator under the RBI guidelines. Paytm OCL investment: The […]
Paytm E-commerce rebrands as Pai Platforms
Paytm E-commerce, one of the leading players in the digital commerce space, has rebranded itself as Pai Platforms. The company has also acquired Bitsila, a seller platform on ONDC, to strengthen its omnichannel and hyperlocal commerce capabilities. Pai Platforms: A New Identity for Paytm E-commerce Paytm E-commerce, which was backed by Paytm Founder and CEO […]
Paytm Under Lens: India Probes Chinese FDI Flow
Paytm, India’s leading digital payments platform, is facing scrutiny from the government over its foreign direct investment (FDI) from China. According to sources, the government is examining the FDI from China in Paytm Payments Services Ltd (PPSL), the payment aggregator subsidiary of One97 Communications Ltd (OCL), which owns Paytm . Paytm and Press Note 3 […]
RBI: Paytm App Stable, Banks May Partner After Checks
The Reserve Bank of India (RBI) has clarified that the recent directives issued against Paytm Payments Bank Limited (PPBL) will not affect the functionality or operations of the Paytm app. The RBI Deputy Governor Swaminathan J said that the action is against PPBL, not against the Paytm app, in a press briefing following the Monetary […]
Juspay, Zoho, Decentro: New Payment Aggregators by RBI
The Reserve Bank of India (RBI) has granted final authorization to three more companies – Juspay, Zoho, and Decentro – to operate as payment aggregators in India. This approval allows these companies to provide payment services to online merchants by accepting payments from customers. What is a payment aggregators? A payment aggregator is a service […]
Cactus Venture Partners raises Rs 630 for Startup Fund
Cactus Venture Partners closes maiden fund at Rs 630 crore Cactus Venture Partners, an India-focused early growth stage venture capital firm, has announced the final close of its maiden fund at Rs 630 crore ($75.8 million). The fund will invest in startups in health tech, climate tech and B2B SaaS sectors, with a cheque size […]
Kerala Startup: Celebrated at the Global AI Summit
Kerala is emerging as a hub of innovation and excellence in the field of artificial intelligence (AI), as evidenced by the recent achievements of its startups at the global stage. One such startup is International Virtual Assistance Pvt Ltd (IVA), a deep-tech company based in Technopark, Thiruvananthapuram, that has bagged the prestigious ‘Best Research Company […]