Waves in FinTech: RBI Restricts Paytm Payments Bank
The Indian Fintech sector is in a state of shock as the Reserve Bank of India (RBI) restricts Paytm Payments Bank from further transactions. The RBI has just rolled out some serious restrictions on Paytm Payments Bank Ltd (PPBL), starting after February 29, 2024. This move is a big deal for Paytm,that has been one of the earliest enablers of India's digital payment system with great support from the current ruling party of India since demonetization. Paytm's Vijay Shekhar Sharma has some serious recovery to execute to withstand this damage. At StartuptoEnterprise.com, we knew this was coming.
RBI Restricts Paytm Payments Bank
So, Paytm, which stands for "Pay Through Mobile," is a part of One97 Communications Ltd. They've been a big name in revolutionizing how India handles money digita...