Paytm Payments Bank gets RBI’s final approval

20161020_AK_Paytm-Head-Office-009Digital payments firm Paytm has finally got regulatory approval to launch its much-awaited payments bank. “Today, the Reserve Bank of India gave permission to formally launch Paytm Payments Bank. We can’t wait to bring it in front of you,” founder Vijay Shekhar Sharma wrote in a blogpost on Tuesday announcing the development. “Today, everything changes, […]

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Hero’s Sunil Munjal, Adventz’s Poddar eye stake in Paytm at $5.7 bn valuation

20161020_AK_Paytm-Head-Office-0232Hero Corporate Services chairman Sunil Munjal and Adventz Group chairman Saroj Poddar are reportedly looking to buy a stake in digital wallet and e-commerce firm Paytm. Munjal and Poddar are together negotiating to buy Paytm shares from early investor and former IDFC Securities analyst Nikhil Vora, The Economic Times reported citing two people aware of […]

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Flashback 2016: Paytm gets note ban boost but payments bank hits a bump

flashback-logo_feIf there is one man who is wholeheartedly welcoming Prime Minister Narendra Modi’s decision to scrap Rs 500 and Rs 1,000 banknotes, it’s Vijay Shekhar Sharma. The Paytm founder and CEO has turned out to be one of the biggest beneficiaries of the move as the cash crunch prompted people to increasingly use the digital […]

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Paytm hopeful of customers staying even after cash needs stabilise

Vijay Shekhar SharmaPaytm founder and CEO Vijay Shekhar Sharma talks to InfraCircle on the sidelines of an event on “petroleum retailing and the road ahead”. Edited excerpts: How prepared was Paytm prior to the demonetisation announcement? We were building a bank and this sort of came in the middle of it so we didn’t have much concerns. […]

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“We will be one of the final two marketplaces,” says Paytm’s Vijay Shekhar Sharma

Vijay-Shekhar-Sharma,-founder,-PaytmVijay Shekhar Sharma, the founder of Paytm, has risen to the occasion to make the most of the demonetization and the cashless economy push initiated by Narendra Modi government. Full-page advertisements in popular dailies, TV commercials, outdoor as well as ambience campaigns across consumer touch-points by the company are a case in point. The forced […]

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Vijay Shekhar Sharma sells 1% in One97 to raise $48.1 mn for payments bank

Vijay Shekhar Sharma, Founder, PaytmPaytm’s founder and chief executive Vijay Shekhar Sharma has sold 1% of his holding in the digital wallet’s parent firm One97 Communications Ltd, to raise nearly $48.1 million (Rs 325 crore). With the latest transaction, One97’s valuation reportedly stands at $4.8 billion (Rs 32,438.4 crore). The money will be used to fund the group’s proposed […]

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Should the government heed to Flipkart, Ola’s call for protection?

flip-olaA nationalistic fervour swells up in the Indian startup landscape with two of the largest homegrown consumer internet companies seeking protectionist policies amid heightened competition from their global rivals. Co-founders of Flipkart and Ola have demanded a level-playing field for domestic companies and even suggested blockades against foreign firms. Speaking at an event on Wednesday […]

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Now make payments via Paytm sans the Internet

For-E-payments-Infra-2_ThinkstockPhotos-505770038Mobile wallet firm Paytm on Wednesday announced that users can pay and receive money as well as recharge mobile phones without an Internet connection. To enable offline transactions, the company has introduced a toll free number, where users can register their mobile numbers and set a four digit Paytm pin . “We are committed to […]

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Paytm to merge wallet business with payments bank

PAYTM_Ankit_feOne97 Communications Ltd, the owner of digital wallet Paytm, said on Monday it will merge its wallet business with its upcoming payments bank to comply with Reserve Bank of India’s directions. The digital wallet will be transferred after the company gets necessary regulatory approval to start Paytm Payments Bank Ltd, it said in a blog […]

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Career advice portal TapChief raises funding from Paytm, TaxiForSure’s founder, others

For-Satvacart-Story-TC_ThinkstockPhotos-611186240Bengaluru-based TapChief, owned by Pilani Experts Technology Labs Pvt. Ltd, has secured an undisclosed amount of funding from Paytm, TaxiForSure’s Aprameya Radhakrishna, Fisdom’s Subramanya Venkat and Nu Ventures’ Venk Krishnan, it said in a statement. The funds will be used to develop a ‘coach model’ which is a structured programme that connects users with experts. […]

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