The Paytm Payments Bank currently lacks a definite timeline for resuming operations, as it was barred from onboarding new merchants in 2022. Bhavesh Gupta, Paytm’s President and COO, remains optimistic that this embargo will be lifted by March 2024.
In December 2020, One97 Communications Ltd., the owner of the Paytm brand, sought to transfer its payment aggregator services to Paytm to adhere to RBI’s guidelines, but the central bank rejected the application. In November 2022, RBI instructed Paytm to re-submit its application to operate as a payment aggregator. However, the onboarding of online merchants by Paytm was halted until pending approvals, possibly due to violations related to customer verification, data storage, data privacy, and data outsourcing.
Since its inception in 2009, Paytm has raised a total of Rs 38,504 crore from 76 institutional investors, including prominent names such as Alibaba Group, SoftBank Vision Fund, BlackRock, and others.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}