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Rakesh Jhunjhunwala being probed for insider trading

Sebi issues summons to investor Jhunjhunwala, some family members and Aptech directors.
The Economic Times



Paytm Payments Bank to help identify rogue apps that could trigger fraud transactions

The security feature will scan the apps installed on the user device and will pop-up a security alert whenever a dangerous app is found that may put the users' accounts at risk. No transactions will be possible until the user uninstalls that fraudulent app.

How to invest in small savings schemes using the India Post Payments Bank app

The India Post Payments Bank (IPPB) offers a single view of all...

Airtel, Western Union team up to launch real-time cross-border money movements in India, Africa

Western Union has teamed up with two Bharti A...

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  • It reported revenue of Rs 370 crore, a growth of 61 per cent at the end of March 2019.

    It has recently launched All-in-One QR for merchants across the country to accept unlimited payments through Paytm Wallet, Rupay Cards and all UPI based payment apps directly into their bank account free of cost.

    It is quite clear from this advertisement that Sethi is stepping away from the MD & CEO position, but it's not clear whether he is quitting the payments bank. Sethi, former managing director of Vodafone M-Pesa Ltd, was appointed MD & CEO of India Post Payments Bank in August 2017.

    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.

    Airtel Payments Bank customers will now be able to use the National Electronic Funds Transfer (NEFT) facility at any time of the day. The facility will be available to customers on a 24x7 basis even on holidays enabling then to receive or send funds to any bank from anywhere, anytime, the Bank said.

    A minimum Rs 200 crore net worth is needed for the license of small finance bank, RBI said.

    Paytm has also filed a first-information report (FIR) with Noida police’s cyber wing against the 3,500 numbers which, the company believes, are behind online frauds.

    Earlier, Aditya Birla Idea Payments Bank had announced winding up its biz due to unanticipated developments.

    ​​The digital payments player said on Thursday that more such partnerships with a range of financial companies may be in the offing in the coming months in order to further diversify its service catalogue.

    The postal department feels that IPPB’s operations have become unviable and has stopped fresh hiring.

    The IPPB, which is a corporate agent, can seek permission from Irdai for sponsoring postmen and grameen dak sevaks of Department of Posts (DoP) to act as Point of Salesperson (PoS), Irdai said. ln case the authority grants permission, IPPB shall be responsible for all acts of omission and commission of the persons appointed as PoS, it added.

    Government looks to achieve 40 billion digital transactions in the current financial year.

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