Paytm to obtain NPCI licence before March 15
By MYBRANDBOOK
By March 15, Paytm hopes to obtain NPCI clearance for a third-party application provider licence, enabling continuous service following the closure of Paytm Payments Bank. The bank's deadline to stop operations, which was scheduled for March 15, is unlikely to be extended by the RBI. The action was taken in response to ongoing worries about the bank's stability, which prompted regulatory measures to deal with the issue.
The Reserve Bank of India (RBI) announced an extension of the deadline for customers of Paytm Payment Bank on February 16, 2024, to conduct deposits and credit transactions until March 15. This move was made in response to the ongoing crisis surrounding the bank, which has sparked worries among both its customers and regulatory bodies.
"No further deposits or credit transactions or top ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, National Common Mobility Cards, etc. after March 15, 2024 (extended from the earlier stipulated timeline of February 29, 2024), other than any interest, cashbacks, sweep in from partner banks or refunds which may be credited anytime," said RBI in a notification earlier.
RBI issued a directive to Paytm Payments Bank, instructing it to cease accepting deposits or top-ups in any customer accounts, wallets, FASTags, and other instruments from February 29, 2024 onwards on January 31.
It highlighted persistent non-compliances and ongoing material supervisory concerns in Paytm Payments Bank Ltd, based on a comprehensive system audit report and subsequent compliance validation report by external auditors.
BREAKING NEWS
TECHNO TRENDS
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
UiPath ropes in Raghu Malpani as Chief Technology Officer
UiPath has announced Raghu Malpani as Chief Technology Officer. Malpani w
DigiCert names Atri Chatterjee as CMO
DigiCert has announced the appointment of Atri Chatterjee as Chief Market
OPEN YOUR EYES
INTERVIEWS
Committed to follow future roadmap with 'Make-in-India' 2.0 Vi
As technology advances, AI is used in increasingly disparate ways to help a
Commvault leading the next generation of data protection throu
A valued brand, Commvault reinforces the commitment to protect customer dat
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
RELIANCE JIO INFOCOMM LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
FIREBOLTT
BHARAT ELECTRONICS LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Aalok Kumar
Aalok continues to lead the India business and further strengthen Indi...
Technology Icons Of India 2023: Alok Ohrie
Alok plays a critical role in the Government of India’s Atal Innovat...
Technology Icons Of India 2023: Kulmeet Bawa
Kulmeet Bawa resides as President & Managing Director, SAP Indian subc...
PARTNER SPEAKERS
PSU
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
NPCI leading India towards Digital payments
The National Payments Corporation of India (NPCI) is an initiative tak...
New defence PSUs will help India become self-reliant
MIL, India’s biggest manufacturer and market leader is engaged in Pr...
VIDEOS
Top 25 Brands
Value-Added Distribution
WPG C&C COMPUTERS & PERIPHERALS PVT. LTD.
WPG C&C Computers & Peripherals (India) was incorporated in 2008 and ...
TECH DATA, A TD SYNNEX COMPANY
Tech Data Corporation was an American multinational distribution compa...
SONATA INFORMATION TECHNOLOGY LIMITED
Sonata Software Limited is a leading Modernization engineering company...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
