Things we are reading today – October 23rd, 2024

Paytm has acquired NPCI approval to onboard new UPI customers, following NPCI’s threat and compliance pointers. Earlier, Paytm confronted RBI restrictions on its Paytm Funds Financial institution, forcing it to modify to a third-party app mannequin with Axis Financial institution, Sure Financial institution, SBI, and HDFC Financial institution as PSP companions. This transition possible led to a decline in Paytm’s UPI market share.

Moneycontrol – 22 Oct 24

Paytm will get NPCI approval to onboard new UPI customers

The approval has been given to onboard new UPI customers, with adherence to all NPCI procedural pointers and circulars

The federal government is working with fintech corporations to create a brand new transaction monitoring and anti-money laundering (AML) system to fight monetary fraud in India. The system goals to handle points like mule accounts, velocity up restoration of stolen funds, and geotag digital transactions, whereas additionally making a suspicious registry of fraudulent banking correspondents.

RBI has directed corporations to report particulars of abroad workers exercising inventory choices, together with SARs and cashless plans, to banks, which can then notify the regulator. This goals to streamline reporting on overseas funding, observe shareholder possession, and deal with lapses in reporting ESOP-related transactions.

The steerage additionally covers FPI-to-FDI transitions, requiring reporting as soon as FPI holdings exceed 10% of an organization’s capital, with the whole holding thought-about FDI.

What are you studying right now? Drop your solutions right here

A helpful thread. Only a suggestion that may enhance publish visits – mentioning the lined subjects within the title itself, in my view will drive matter particular customers to the publish.

E.g. this publish may have been titled:“NPCI approval for Paytm, a brand new Anti Cash Laundering system, and abroad ESOP transactions – TWART Oct twenty third 2024”

So if I’m a Paytm investor or have curiosity in esops, I’ll positively go to the publish.