India's banking regulator has declined a payment aggregator licence for the One 97 Communications Ltd unit that owns the popular Paytm brand, asking it to reapply with 120 days after meeting certain conditions.
Paytm app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration
unit that owns the popular Paytm brand, asking it to reapply with 120 days after meeting certain conditions. Payment aggregators, platforms that bring together various online payment options, must be licensed by India's central bank and banking regulator, Reserve Bank of India.
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