(CTN News) – It was possible for Paytm to obtain authorisation for the application that it submitted to regulatory authorities in order to obtain a business licence to operate as a payment aggregator.
Paytm was successful in successfully obtaining authorisation. A successful outcome was achieved as a result of the application being granted approval. After the article was published, the shares of One97 Communications.
Incorporated in India, Paytm’s parent company.
Increased by Rs 46.25, which is equivalent to a 10% increase, and reached a price of 508.85 per share on the Bombay Stock Exchange (BSE). Paytm is a mobile payment service that is offered by One97 Communications.
Users are able to send and receive financial transactions through the usage of Paytm, which is a provider of mobile payment services. Paytm is the name of a provider of a mobile payment service that is now available.
At this same moment, Paytm is in a position to establish communication with the Reserve Bank of India (RBI) to initiate the process of acquiring a licence to operate as a payment aggregator.
This conversation will take place in order to begin the process of obtaining a licence. This very moment, the financial institution is going to conduct an investigation into this licence in order to determine whether or not it is legitimate.
Gov’t approves Paytm’s plans for payment aggregator, reports say.
This information has been reported online. It has been established through the reports that the information in question is correct. On the other hand, the official certificate in question has not yet been satisfactorily acquired from the necessary authorities.
News18.com has been informed by a source that the previously anticipated investment from a Chinese company is no longer being considered at this time. This information was provided by the person who is knowledgeable about the situation.
This knowledge was divulged by the one who is intimately familiar with the situation concerned. As a result of the withdrawal of the earlier investment that was supposed to be made available for purchase, this transpired as a consequence as a result of the withdrawal.
Paytm has received approval from the government to invest fifty crore rupees in a substantial subsidiary, according to an article published by Reuters earlier today.
The transaction is expected to be completed within the next few weeks. This particular piece of information was a primary component of a piece of work that was published earlier today.
In the event that the primary obstacle that has been preventing the unit, Paytm Payment Services, from returning to its regular commercial operation is overcome, it is quite probable that permission will be granted.
Here’s how likely it is that Paytm will approve your account.
During the course of the fiscal year that came to a close in March 2023, Paytm Payment Services was accountable for a quarter of the whole amount of money that the corporation made.
This was responsible for giving rise to the whole amount of revenue that the company produced. Due to the fact that this is the case, it is one of the most important aspects of the business that the fintech company has been able to maintain over the course of this amount of time that it has been open for business.
In a note that was distributed on the 22nd of July, the broking firm Emkay stated, “We believe that the long-pending FIPB approval for investment in its payment subsidiary, expected in the near term, which is likely to pave the way for an a/c aggregator licence could be sentimentally positive.”
This approval is expected to be granted in the near future. It is anticipated that this approval will be obtained in the not too distant future. It was the corporation that was responsible for issuing the note.
This comment was made in conjunction with the fact that it is anticipated that approval will be reached, and it was stated in reference to the fact that it is anticipated that approval will be obtained in the not too distant future.
SOURCE: NN
SEE ALSO:
Google Pixel 9: Significant Details are Revealed in a Massive Leak
Google has Merged Mistral AI’s Codestral with the Vertex AI Platform.
Spain is Investigating Apple’s App Store for Antitrust Violations.
Salman Ahmad is known for his significant contributions to esteemed publications like the Times of India and the Express Tribune. Salman has carved a niche as a freelance journalist, combining thorough research with engaging reporting.
