Paytm and PPBL's Strategic Agreement Termination

Paytm and PPBL's Strategic Agreement Termination

In response to RBI restrictions, Paytm and PPBL opt to discontinue inter-company  concagreements. This strategic move addresses regulatoryerns and underscores Paytm's commitment to seamless services.

RBI imposed business restrictions citing non-compliance with KYC and AML norms. Board approval for agreement termination granted on March 1. Paytm assures uninterrupted services.

PPBL shareholders agree to simplify Shareholders Agreement, enhancing governance independently. Despite regulatory challenges, Paytm remains devoted to providing uninterrupted services.

In response to regulatory measures, Paytm partners with Axis Bank for merchant settlements. Application for TPAP with HDFC Bank and Yes Bank aims for a smooth transition of customers and merchants.

Pending NPCI approval, Paytm positions itself as a TPAP, ensuring continuity in UPI services. Despite challenges, Paytm maintains a commitment to innovation, technology, and regulatory compliance.

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