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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
While the payments bank’s new board tries to impress RBI by scrubbing all links with its parent and founder, the regulator may well be biding its time before it pulls the plug.
Paytm Payments Bank is on a knife-edge.
It has been over a month since sweeping sanctions kicked in for what the Reserve Bank of India described as the bank’s “persistent non-compliance”. These include stopping all new banking activities such as accepting deposits in customer accounts, issuing prepaid instruments such as wallets and FASTags, and processing UPI and bill payments. In short, all business activities at the bank have been put on halt since 15 March.
Paytm Payments Bank, meanwhile, has been ramping up efforts to allay the central bank’s concerns. One of its first actions has been to reconstitute its …
The UAE is looking at its first public listing of the year while Egypt just delivered a big one; OpenAI’s bugging accused has ties to Saudi Arabia; and other updates from the week.
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
