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The matter relates to Paytm’s December 6, 2023 announcement that it would reduce the distribution of personal loans below Rs 50,000, particularly its postpaid loans.
The offering is designed to comply with the accessibility requirements of the Reserve Bank of India (RBI) under BIS IS 17802 standards.
The NBFC arm, Dhanrise Finance, is scheduled to commence lending operations in October 2026.
The latest approval comes after Vested received an IFSCA Global Access Provider (GAP) licence in April.
The licence allows Paytm Europe to offer a range of payment services, including processing payment transactions, handling transactions backed by credit facilities, and merchant payment acquiring services.
The move comes as India's primary market continues to see strong listing activity, with a growing pipeline of startups and new-age companies preparing to go public.
With the new licence, Skydo can facilitate both incoming and outgoing payments between India and Canada, including local fund collections and payouts.
The latest action is part of the RBI’s ongoing efforts to strengthen oversight of the NBFC sector.
The approval, granted under the NBFC-ND-ICC category, will enable the company to directly offer secured mortgage loans to borrowers.
An inside look at the RBI’s quiet intelligence advisories to payment aggregators; and ohow Tamil Nadu has become one of the first states in India to carve out a dedicated space for AI...
MobiKwik said it is targeting a 10x expansion in its merchant payments segment by FY28.
Jumpp intends to roll out insurance offerings across health, life, motor, home and business categories through partnerships with insurance companies.
With these approvals, Skydo can now facilitate both incoming and outgoing international transactions for Indian businesses.
The central bank has also directed Maharashtra’s Registrar of Cooperative Societies to begin the bank’s liquidation process and appoint a liquidator.
Public policy veteran Nirupama Soundararajan will head the Digital Precious Metals Assurance Council of India.
The approval for the stock broking business covers fixed-income instruments like corporate bonds, government securities, and treasury bills.
The urgency to form the task force comes in the wake of Anthropic's controlled rollout of Mythos under a programme called Project Glasswing.
The government has also constituted the Online Gaming Authority of India (OGAI) under the law to oversee implementation of the new compliance regime for gaming platforms.
The regulator said entities such as Infinite Beacon, IB Prop Desk and Sispay TFS raised funds while presenting themselves as being associated with the SEBI-registered broker.
The fine was issued under the provisions of section 30(1) read with section 26(6) of the Payment and Settlement Systems Act, 2007.
