paytm

Paytm ordered to refund cancelled flight ticket and pay compensation for 'deficiency in service'

A Himachal Pradesh consumer commission has ordered Paytm to refund a cancelled flight ticket amount of Rs 6,437, along with Rs 10,000 compensation and Rs 5,000 in legal costs, to a customer. Paytm was found liable for "deficiency in service" for failing to ensure the refund reached the customer, despite the airline transferring the money to Paytm.

Paytm to announce first-ever bonus issue of shares with Q1 FY27 earnings

Paytm's parent One 97 Communications will announce its first-ever bonus share issue and Q1 FY27 earnings today. This follows a share buyback and comes as domestic ownership rises, with the stock recovering from a lifetime low after regulatory challenges.

Parekh on what closing Paytm Payments Bk means

RBI Cancels Paytm Payments Bank Licence

The Reserve Bank of India has cancelled the banking licence of Paytm Payments Bank Ltd (PPBL) effective April 24, citing persistent compliance issues and operations detrimental to depositors and public interest. The action follows over two years of regulatory scrutiny and a 2024 ban on fresh deposits. While Paytm's core services including UPI payments, QR scans, and merchant payments remain unaffected, users with PPBL wallets or accounts must withdraw or transfer funds as the bank winds down.

RBI revokes Paytm Payments Bank's banking licence

The Reserve Bank of India has cancelled the banking licence of Paytm Payments Bank Limited, effective April 24. The central bank cited violations of the Banking Regulation Act, including mismanagement and failure to protect depositor interests. The RBI will initiate winding-up proceedings, assuring depositors of full repayment.