Paytm Payments Services Ltd (PPSL) is a subsidiary of One97 Communications Ltd (OCL), the parent of Paytm. PPSL has been awaiting regulator nod to offer Payment Aggregator (PA) services since 2020. RBI had rejected its payment aggregator licence application in November 2022, instructing the company to reapply with compliance under foreign direct investment (FDI) norms. … Read more
Antfin has sold it’s final remaining 5.84% stake in Paytm. Deal has been executed in open market at Rs 1,020/ share aggregating Rs 3,800 cr. Antfin was the last remaining Chinese shareholder, and now Paytm will no longer have any Chinese ownership. This would possibly also looked favorably by the Indian regulators. Ant’s exit was … Read more
Zerodha’s Nithin Kamath has never shied away from straight talk. This week, he laid out a rare self-assessment of his company’s recent growth, or the lack of it, in public. In a detailed post on X (formerly Twitter), Kamath shared that while Zerodha continues to manage increasing volumes of investor wealth, the number of new … Read more
As is typical of many new age startups, one more notice for violations. The Enforcement Directorate (ED) has issued a show-cause notice to the parent company and two subsidiary companies of Paytm for allegedly violating provisions of the Foreign Exchange Management Act (FEMA). Notice is to the parent One 97 Communication limited (OCL), it’s managing … Read more
Angel One Appoints Ambarish Kenghe (AK) as Group Chief Executive Officer AK is currently Vice President and General Manager at Google Pay APAC. He was instrumental in scaling Google Pay’s in India. He also had a key role in the launch of Chromecast and Google TV’s development. Before Google, AK had served as Chief Product … Read more
The Centre has circulated a draft legislation to ban lending by unregulated entities, including by platforms, with violators facing imprisonment of up to seven years. Lenders, who harass and use unlawful means for recovery, face up to 10 years in jail, with those promoting such lending facing a term of up to five years. The … Read more