The post-Covid era led to stark changes in every individual’s work-life balance. While adapting to the ‘new normal’, trends like remote work, digital
Under the Banking Regulation Act of 1949, the RBI holds broad powers to issue directives in the public interest of banking policy. The introduction of specialized banks, such as Payment Banks, was recommended by the Nachiket Mor committee with the aim of promoting financial inclusion. These banks are required to register as public limited companies and obtain licenses under the Banking Regulation Act, 1949. While Payment Banks can conduct most banking operations, they are restricted from advancing loans or issuing credit cards. They can, however, accept deposits up to 2 lakhs and provide mobile and internet banking services.
Paytm is a prominent Indian digital payment and financial services company. It offers a wide range of services including digital payments, banking, lending, insurance, and wealth management through its mobile app. Paytm has played a significant role in promoting digital transactions and financial inclusion in India.
In recent years, there have been various developments and collaborations between RBI and Paytm. As a regulated financial institution, Paytm operates under the guidelines and regulations set forth by the RBI. The RBI periodically issues directives and guidelines related to digital payments and financial services, and Paytm complies with these regulations to ensure the safety and security of its services.
The RBI has been taking forceful action in recent months to clamp down on risks in the financial sector, hitting affected stocks. At the end of last year, it barred lenders from investing in alternative investment funds that hold stakes in their borrowers to prevent an unstable build-up of assets. Before that, it imposed stricter rules to stem the relentless rise in risky consumer loans.
RBI Governor Shaktikanta Das said last month that India’s financial sector needs to remain more watchful on risk management. He said some banks and non-bank financial companies didn’t have the bandwidth to manage a surge in loans approved by algorithm models used by the financial institutions. RBI will guard against any sense of complacency and is committed to safeguard trust in the Indian financial sector, according to Das.
It’s interesting to note One97’s other businesses such as loan and insurance distribution as well as equity broking, which are not related to the payments bank, will likely remain unaffected.
RBI has been taking forceful action in recent months to clamp down on risks in the financial sector, hitting affected stocks. At the end of last year, it barred lenders from investing in alternative investment funds that hold stakes in their borrowers to prevent an unstable build up of assets. Before that, it imposed stricter rules to stem the relentless rise in risky consumer loans especially post the demoentization which was conducted on November 8th, 2016 under then RBI Governor Urjit Patel.
Efficiency is paramount for the best law firms in today's fiercely competitive legal landscape. Technology empowers them to Efficiency is Read more
Sensitive Data Breach All confidential information stored and managed by an individual or organization, accessed only to authorized users with Read more
Bootstrapping refers to the practice of starting and growing a business without relying on external funding or investment. Instead, Bootstrapping Read more
Aviation law - the "Law of the Air," is a legal framework that governs and regulates various aspects of air Read more
FEMA (Foreign Exchange Management Act), was established in 1999. It is a set of laws that allows the Reserve Bank Read more
Abstract: This research article provides a comprehensive examination of the legal framework governing the online gaming market in India and Read more
In India's ever-changing financial technology (FinTech) platform, both big institutions and new startups must understand the rules they In India's Read more
In the world where innovation reigns supreme, NatWest Group, the UK’s largest business and commercial bank, has embarked on a Read more
In the era of entrepreneurship. India currently holds the third-largest market share for startups. In fact, the overall amount of Read more
The essence of client-centricity is considering how your business is structured and how you manage service delivery from the client's Read more
