Paytm gets permission from npci to enroll new UPI users, RBI Banned Its Banking Unit in January

Payment services firm Paytm has reported that it has received permission to enroll new Unified Payment Interface (UPI) users. The National Payments Corporation of India (NPCI) has approved Paytm for this. A few months ago, Paytm’s banking unit was banned by the Reserve Bank of India (RBI).

The reason for this ban was issues related to Compliance. after this Paytm There was a huge decline in the share price of. However, in the last few months it has done some recovery. Recently, the market regulator SEBI had issued a show cause notice for alleged disturbances in the company’s Initial Public Offer (IPO), a company founder and other board members recently brought to about three years ago. In this notice, an answer was sought after giving incorrect information about the facts.

Paytm founder Vijay Shekhar Sharma was described as an employee of the company in the documents filed for this IPO, while he should have been placed in the category of large shareholders that can affect the company’s decision. According to a media report, SEBI has questioned the then directors of the company about this. According to data from the stock exchange, Sharma was described as a public shareholder instead of a large shareholder. It was told in these documents that there are no investors in the category of large shareholders of Paytm. Paytm had said about this, “The company is in regular contact with SEBI regarding the matter.” Along with this, Paytm has told that information about this notice was given in the filing of quarterly results.

SEBI alleges that 2.1 crore employees given to Sharma are a violation of his rules for giving stock-based employees benefits. Under these rules, large shareholders who have the ability to affect the company’s decisions cannot have eSops. ZOMATO, which provides food delivery service through Paytm’s movie and event ticketing business app, is preparing to buy for $ 24.42 million (about Rs 2,049). ZOMATO plans to increase its ticketing business. This will increase Jomato’s presence in the online ticketing market for movies and live events. This market has the highest share of Bookmyshow with Reliance Investment.

(This news has not been edited by the NDTV team. This syndicate has been published directly from the feed.)