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Published 1 year ago

Payment Aggregator Authorisation: RBI rejects Paytm application, asks firm to reapply in 120 days after certain steps

Summary by Ground News
The Reserve Bank of India (RBI) has turned down Paytm Payments Services Limited's application to seek licence to operate as a payment aggregator within the country. The central bank has now asked PPSL to re-submit its payment aggregation services application within 120 calendar days. Till the approvals are cleared, the fintech company will not onboard new online merchants.

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MoneycontrolMoneycontrol

RBI refuses to grant Paytm license as payment aggregator, asks company to reapply

The central’s bank response also said that PPSL is required to take to re-submit its PA application with 120 calendar days, and outlined two steps to fulfil

1 year ago·India
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The Economic TimesThe Economic Times

RBI asks Paytm unit to reapply for payment aggregator licence

The regulator asked Paytm Payments Services Ltd, a 100% subsidiary of One 97 Communications, to reapply after getting the necessary approvals for foreign direct investment in the company to comply with existing rules, the company said in a notification to stock exchanges on Saturday.

1 year ago
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Business TodayBusiness Today

RBI turns down Paytm’s application for payment aggregator licence, asks to resubmit plea in 120 days

Paytm PA plea: RBI’s PAs guidelines state that a single entity cannot continue to provide an e-commerce marketplace along with payment aggregator services. Such payment aggregator services must be separated from the e-commerce marketplace business.

1 year ago·India
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NDTV Gadgets 360NDTV Gadgets 360

Paytm to Resubmit Application for Approval of Payment Aggregator Services

Paytm has shared an update with the exchanges about its 100 per cent subsidiary, Paytm Payments Services. The company can now resubmit the application within 120 calendar days for the payment aggregator services. Ahead of that, the company will seek necessary approval for past downward investment from Paytm into its subsidiary.

1 year ago
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The Hindu Business LineThe Hindu Business Line

Payment Aggregator Authorisation: RBI rejects Paytm application, asks firm to reapply in 120 days after certain steps

Central bank directs Paytm Payments Services not to onboard new online merchants

1 year ago·New Delhi, India
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PGurusPGurus

Paytm Payments Services Ltd to Resubmit Application For Authorization to Provide Payment Aggregator Service

Paytm on Saturday shared an update with the exchanges about its 100 percent subsidiary, Paytm Payments Services Ltd (PPSL)

1 year ago
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