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Dec 05, 2019, 08.23 PM IST

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  • Sharma said the payments bank will approach the government and the banking regulator for a small finance bank licence as it can leverage the model using technology enabled low-cost operations — a central theme of small finance banks, according to the RBI.

    AePS facilitates cashless transactions through biometric authentication. According to NPCI, which runs the platform, biometric-based transactions grew by 10% to 208 million transactions in October 2019 from 189 million in April. October usually sees high transactions because of the festive season and higher remittance from urban to rural areas.

    The government had last month asked top two e-commerce firms Flipkart and Amazon to share details of their top five sellers and total business quantum for each seller, variations of commission agreements they have with various sellers, and how investments from their parents are disbursed.

    Paytm had earlier this week announced a USD 1 billion (around Rs 7,173 crore) fund raise led by US-based asset management firm T Rowe Price. Existing investors Alibaba, Softbank and Discovery Capital had also participated in the funding round.

    FASTags are issued by 22 certified banks through various channels such as Point-of-Sale (POS) at National Highway toll plazas and select bank branches, e-commerce platforms like Amazon and mobile wallets like Paytm.

    Paytm said it has raised $1 bn in financing round led by T Rowe Price with Ant and SoftBank also participating.

    Music has always been Paytm founder Vijay Shekhar Sharma’s refuge.

    As part of efforts to convert itself into a super app, Paytm is adding content — news, astrology to trending content on Twitter — into the Paytm Inbox, Siddharth Pandey, VP of Paytm, said.

    The service provider will also have to set up a system to resolve customer complaints or queries online. Only owners of cars, utility vehicles, vans and other light motor vehicles will be allowed to buy FASTags online. It has been specified in the bid document that the service provider shall not sell FASTags “in bulk to any single customer or a group of customers.”

    A huge number of Paytm user have already approached the company’s cyber cell and RBI's ombudsman.

    DMA plans to use the funds to scale up product development and branding, create awareness about its key offerings, followed by an upcoming launch in the Indian e-commerce space.

    Phoenix was able to report decent numbers for the 2nd quarter despite weakness in the consumption space. With the construction of its 5 malls nearing end, the company is expected to report better numbers. This has made it a favourite of analysts.

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