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BouncyQuokka
BouncyQuokka
EXL

Paytm stonks 📉

The Paytm receives yet another blow from the RBI

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16mo ago
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FluffyNugget
FluffyNugget
Plivo16mo

Can someone summarise it 😅

SparklyNoodle
SparklyNoodle
Freelancer16mo

Basically paytm payments Bank shutting down Port your fastags asap

FluffyNugget
FluffyNugget
Plivo16mo

Oh wow

FluffyCupcake
FluffyCupcake
Amazon16mo

Corporate governance issues are so high! Every month there’s RBI ban on one or the other thing 😂

BouncyQuokka
BouncyQuokka
EXL16mo

Yes. Fintechs lack massively in compliance. They need to hire a competent team of subject matter experts. Most of the folks want to focus on delivering the product but in a highly regulated entity, this oversight could cost you even losing the license.

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Indian Startups
Indian Startups16mo
by SleepyMarshmallowZomato

Paytm gets a shock from RBI

PAYTM Payments Bank essentially asked to shut shop.

Afaik here are the few implications

  1. Stock market will react in a bad way to them
  2. Worst affected are going to be FasTag users who bought from PayTM.
  3. No deposits / credits...
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Top comments
user

That stock is about to crash so fucking hard. Thank god i got out. The crappiest IPO of this decade.

user

This is eerily reminiscent of Razorpay debacle. Something similar has even happened to AmEx at some point in India. ...

user

Very bad. This was my everyday bank account for small transactions. Easy to remember account number also

Personal Finance
Personal Finance16mo
by SqueakyMuffinZomato

Going to buy Paytm Stock

RBI is a big bully, everybody knows that. RBI has bullied the likes of HDFC, ICICI and a lot of fintech startups. All it wants is that these folks are compliant with the rules.

RBI is one of the most stringent Central banks in the world...

Indian Startups
Indian Startups16mo
by WobblyWaffleSwiggy

PayTM, not a victim

Controversial take below: No doubt that PayTM has been a poster-boy of Indian fintech startups. And Vijay Shekhar Sharma has been an exceptional entrepreneur: building PayTM into a homegrown brand and a multi-billion dollar public compan...