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Paytm is the latest member of India’s startup royalty to flame out. Edtech firm Byju’s was once India’s most valuable startup, worth $22 billion in late 2022, but the startup is now dealing ...
Paytm, once the hottest of India’s startups, has seen a stunning fall on the stock market since last week, extending a plunge that has wiped nearly 80% off its value since it went public in the ...
Paytm (an acronym for "pay through mobile") is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. [4] Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications .
Paytm Payments Bank (PPBL) was an Indian payments bank, founded in 2017 and headquartered in Noida. [3] In the same year, it received the license to run a payments bank from the Reserve Bank of India and was launched in November 2017.
One97 Communications Limited is the parent company of Paytm, a digital payments and financial services company that was launched by Sharma in 2010. [16] In November 2021, Paytm went public raising $2.5 billion at a valuation of $19 billion, making it India's largest initial public offering at that time.
Paytm, one of India's first startups to go public, said its consolidated revenue rose 38% to 28.51 billion rupees, with the payments business contributing 61% to the total.
Paytm Payments Bank and Airtel Payments Bank together command over 88% of the deposits in payment banks in India in 2018. According to the Reserve Bank of India's report on ‘Trend and progress of Banking in India 2017-2018', the payment banks reported losses in the financial year 2017-2018, after a weak performance in the FY 2016-17. [14]
The Reserve Bank of India (RBI) on Wednesday ordered Paytm Payments Bank to stop accepting fresh deposits in its accounts or popular digital wallets from March, raising worries over revenues from ...