Brokerage firm Jefferies maintains a 'Buy' rating for Paytm, citing its dominant merchant payments platform and projected revenue growth.
CEO Shashi Arora discusses his roadmap for Airtel Payments Bank with Karan Choudhury.
Wipro will be implementing the core banking solution for Paytm.
The Commercial Taxes Department has arrested Mohammed Tauqeer for his involvement in generating and routing fraudulent ITC across multiple states, unearthing a GST fraud worth Rs 410 crore.
Four individuals have been arrested for allegedly running a sophisticated cyber fraud operation, duping people with fake discounted air tickets across multiple cities. Police recovered a substantial amount of cash and luxury items from the accused.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
The State Election Commission (SEC) has barred the Maharashtra government from releasing the January instalment of the 'Ladki Bahin' scheme in advance, citing the enforcement of the model code of conduct for municipal elections. The decision follows complaints about the timing of the release, coinciding with upcoming municipal elections.
"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
Even if there is an early agreement on a cessation of hostilities in West Asia, the price shock will not go away easily, points out A K Bhattacharya.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
While a wallet is convenient, payments bank offers interest on deposits and ATM facility.
Experts contend that this setback, even if temporary, could put the company at a disadvantage to its competitors in acquiring new customers.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
A family in Thane, Maharashtra, was allegedly defrauded of over Rs 1.66 crore by a man who exploited their fear of black magic, promising divine remedies through rituals and pilgrimages.
In August, RBI allowed 11 business houses to start a payments bank.
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Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in.
Cyber intelligence firm CloudSEK reports that online fraudsters are using a new toolkit called 'Digital Lutera' to bypass security features of UPI apps and carry out fraudulent financial transactions.
Jaitley said banking network is expanding hugely and the health of banks reflects on the challenges for the economy.
Customers will qualify for compensation even if they mistakenly share the OTP.
Payment banks may not be viable option to attain financial inclusion.
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
Regulators will need to allow the model to evolve to allow profits to flow, says Una Gulani.
Congress leader K C Venugopal has filed a defamation complaint against a Haryana-based man, alleging politically motivated accusations ahead of the Kerala Assembly elections.
Bihar Police arrested 141 people in a state-wide crackdown on mule bank account networks allegedly used for cyber fraud. The operation, 'Cyber Prahar 2.0', led to the registration of 86 FIRs and uncovered collusion by bank employees.
Delhi Police have arrested five individuals for allegedly abducting and robbing a man after luring him through a dating application in the Kalkaji area. The victim was assaulted, forced to transfer money, and later abandoned.
A total of 41 companies had applied for the permit
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
The board is likely to take up the matter this month.
Delhi Police have arrested four individuals involved in a sophisticated roadside extortion scheme, posing as fake loan recovery agents and targeting vehicle owners with pending EMIs.
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
The Enforcement Directorate has restored assets worth over 15,000 crore to a Supreme Court-appointed committee for distribution to investors defrauded in the PACL (Pearls Group) Ponzi scheme.
The Enforcement Directorate has filed a chargesheet against former Reliance Communications president Punit Garg and another individual in connection with a money laundering probe linked to an alleged Rs 40,000 crore bank loan fraud.
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
The Delhi High Court has extended the suspension of actor Rajpal Yadav's sentence in cheque bounce cases until April 1, acknowledging his 'substantial' payment towards the outstanding amount.
Payments banks are niche banks set up by the Reserve Bank of India to further the agenda of financial inclusion.
Delhi Police have arrested two individuals from Rajasthan for allegedly defrauding a Delhi resident of over 21 lakh through a high-return online investment scam. The accused lured the victim with promises of lucrative returns and prepaid tasks.
The RBI has doubled the limit of maximum balance that an individual customer can hold with payments banks to Rs 2 lakh from Rs 1 lakh earlier with immediate effect to expand the ability of such lenders to cater to the needs of MSMEs and other businesses.
The Allahabad High Court has rejected a petition to dismiss a case against a woman accused of defrauding an aspirant of over Rs 22 lakh with false promises of a PhD degree and a university job.
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