Paytm Secures Government and FDI Approval, to Resubmit License for Payments Arm

Aug 28, 2024, 12:21 PM

India's fintech giant Paytm, operated by One 97 Communications, has received government approval for a downstream investment into its payments services arm, Paytm Payments Services Limited. The approval from the Finance Ministry, including FDI approval, allows Paytm to revive its payment services business, which had faced scrutiny previously. With this nod, Paytm Payments Services Limited will resubmit its application for a payment aggregator license, a crucial step for the company's operations.