How to add bank account to paytm11/8/2022 ^ "Paytm Payments Bank receives Scheduled Bank status from RBI".^ "Paytm Payments Bank receives scheduled bank status from RBI".^ a b "RBI gives licence for 11 payments banks".^ "Paytm gets a green signal from the RBI to formally launch its 'Payments Bank' ".Here's how it compares to rivals Airtel, India Post". ^ "Paytm Payments Bank Launched: All About India's Mobile-First Bank With Zero Minimum Balance"."Paytm Payments Bank appoints Satish Kumar Gupta as MD and CEO". ^ Ahuja, Aakanksha (October 24, 2018).^ a b "Arun Jaitley launches Paytm Payments Bank, vouches for digital payments".In 2018, the National Payments Corporation of India (NPCI) recognized the company with Excellent Award 2018 for excellent performance for High Acceptance of Rupay card for E-Comm Transaction & Excellent performance in Aadhaar Enabled Payment System (AePS).The company was awarded the RBI Asia Trailblazer Award by Retail Banker International in 2019.It also won with Celent Model Bank 2019 Award.It won the Infosys Finacle Client Innovation Award under categories such as process innovation, innovative custom components and product innovation in 2019.The award was presented by Ravi Shankar Prasad, the Minister of Communication, Electronics & IT and Law & Justice, at the 2019 MeitY Start-up Summit. In October 2019, Paytm Payments Bank received the Digital Payments Award for outstanding performance from the Government of India.It won the Finacle Client Innovation Award, 2020 for the category of Ecosystem-led Innovation by Infosys.It was awarded the ETBFSI Excellence Award under the category 'Best Digital Bank of the Year' by The Economic Times in 2020.In September 2021, Paytm Payments Bank was awarded the ASSOCHAM's FinTech & Digital Payments Award 2021 in the category of Excellence in Payments by the Associated Chambers of Commerce and Industry of India.On 11 March 2022, RBI prohibited PPBL from on-boarding new customers owing to "certain material supervisory concerns observed in the bank". In October 2021, RBI imposed a fine of ₹1 crore on the bank for violating laws pertaining to payments and settlement. However, in January 2019, it received approval from the RBI to resume on-boarding new customers. In June 2018, the Reserve Bank of India barred Paytm Payment Bank from opening new customer accounts, following an audit by the Reserve Bank of India, which made some observations about the process the company follows in acquiring new customers and its adherence to KYC norms. The company registered a profit of ₹29.8 crore for the financial year 2020. Paytm Payments Bank reported a ₹19 crore profit for the financial year 2018-2019, making it the first payments bank in India to become profitable. Since June 2021, it is not providing new fixed deposit creation with Suryodaya Bank. In January 2021, it tied up with Suryoday Small Finance Bank to offer fixed deposit services to its account holders. It entered into a partnership with MasterCard for the issuance of virtual and physical debit cards in April 2020. In January 2018, Paytm Payments Bank partnered with IndusInd Bank to offer fixed deposits. Paytm Payments Bank has issued seven million Visa debit cards through its platform in FY'21. Paytm Payments Bank offers savings and current accounts with a debit card, facilitating fast and easy payments. In March 2021, the bank received approval for its UPI handle from the Securities and Exchange Board of India for issuing payment mandates for initial public offerings (IPOs) through the Unified Payments Interface (UPI). It processed over 778 million UPI transactions amounting to ₹89,388 crore in June 2022 and continues to be India’s biggest UPI beneficiary bank with over 1,370 million digital transactions in June 2022. In the financial year 2020, the bank facilitated more than 485 crore transactions worth ₹4.6 lakh crore. In 2015, Paytm Payments Bank Limited had received in-principle approval from the Reserve Bank of India to set up a payments bank and was formally inaugurated on November 28, 2017.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |