Paytm, a startup that offers online payment services, is in soup and its problems don’t seem to be getting better. Also Read: Nitish Kumar WINS Floor Test By 129 VotesAnt Group of China has invested in the companyThe government would invest in Paytm Payments Services Limited (Paytm Payment Bank), the banking division of Paytm’s parent company One97 Communications Ltd., according to information given in a PTI article that cites sources. The story also looks into Chinese foreign direct investment (FDI) in Paytm Payments Limited. An interministerial committee is looking into Payment Bank in relation to China FDI in Paytm, according to PTI sources, and a decision would be made following the probe. Payments Bank was subject to regulatory action by the Reserve Bank due to non-compliance and supervisory issues.

Source: News 24 February 12, 2024 14:22 UTC