Back to Career News

PayTM Receives Notice from Delhi HC Regarding Postpaid Wallet Service

May 30, 2019

PayTM Receives Notice from Delhi HC Regarding Postpaid Wallet Service

Mobile wallet company PayTM recently received a notice from the Delhi High Court in which it was asked to respond on a Public Interest Litigation (PIL) which says that the company is offering a post-paid wallet which violates the banking rules. The same notice was also sent to the central bank RBI.

The PIL said that PayTM has a payments bank license but that doesn’t mean that it’s authorized to offer loan or credit disbursement facilities to the customers.

Image Source

Recommended for you ...

Private Banks Experience Margin Pressure as Deposit Costs Rise
Private Banks Experience Margin Pressure as Deposit Costs Rise

May 16, 2024

Canara Bank Shares Surge 4.6% After Stock Split Takes Effect
Canara Bank Shares Surge 4.6% After Stock Split Takes Effect

May 16, 2024

Private Banks in India Lead Branch Expansion Drive Over Public Sector Counterparts
Private Banks in India Lead Branch Expansion Drive Over Public Sector Counterparts

May 16, 2024

Chat on WhatsApp