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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.
Even as Paytm battles an unprecedented crackdown on its payments bank, the fate of its payment aggregation business hinges on crucial clearances from the authorities.
A day after the central bank imposed sweeping restrictions on the operation of his payments bank, Vijay Shekhar Sharma, founder and CEO of Paytm, addressed a group of analysts last week to explain the next steps.
Paytm’s damage-control strategy, as Sharma explained, would essentially entail replacing all of its tie-ups involving Paytm Payments Bank with other third-party lenders. This would ensure that the platform continues to offer UPI services, bill payments and (possibly) wallet services. Sharma also called the Reserve Bank of India’s action “a major speed bump” and predicted a one-time hit of Rs 500 crore on the company’s …
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
