Times of India | RBI scraps licence of Paytm Payments Bank

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The Reserve Bank of India abruptly revoked Paytm Payments Bank’s banking licence on Friday, ordering its immediate winding‑up in the High Court. RBI said the bank’s affairs were “detrimental to the interest of the bank and its depositors,” citing a management style “prejudicial to depositors and the public interest” and repeated failure to meet licence conditions. Although the bank has sufficient liquidity to repay all deposits, it has been operating as a runoff entity since 2022 after successive bans on new customers, deposits, credits, and wallet top‑ups. RBI is directing the bank’s winding‑up while allowing UPI transactions to continue through partner banks (Axis, Yes, SBI) and noting that the wallet business and debit‑card operations will gradually be phased out. The move is expected to heighten regulatory scrutiny on Paytm’s parent, One97 Communications, and may affect any current or future licences held by its group entities.

Read more: https://timesofindia.indiatimes.com/business/india-business/rbi-scraps-licence-of-paytm-payments-bank/articleshow/130507245.cms

#RBI #One97Communications #AxisBank #YesBank

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After ED raids in a ₹3,000 crore fraud case, Reliance Group has hit back with a white paper claiming full compliance and historical resolution. While investigations continue, some analysts believe this might signal an eventual legal wrap-up.

But no official confirmation yet. What do you think—damage control or a step toward closure?

#AnilAmbani #EDProbe #YesBank #RelianceGroup #WhitePaperResponse #IndiaFinance

https://news24media.org/anil-ambanis-reliance-group-yes-bank-loan-probe/

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Yes Bank informed me that they haven't sent me my credit card statement on email. And I should download it from their website. What new assholeness is this?

They don't provide historical access to statements on their website. Mobile app is practically useless. Email is one place I have a safe source to get data dating back to 20 years and they find it a bit too much to send pdf files on email?

But it's perfectly fine to send me 15 marketing emails in a week?

#YesBank #AssholeBehavior

Yes Bank to charge 1% fee on utility payments on their Credit Cards

https://broadband.forum/threads/yes-bank-to-charge-1-fee-on-utility-payments-on-their-credit-cards.227394/

#YesBank #CreditCards #UtilityPayments #India #Finance

Your bank shouldn't be spamming you with mails that do not include an unsubscribe option. But Yes Bank does.

#YesBank #Spam

Yes Bank Reduces Fixed Deposit Interest Rates.

#YesBank #FixedDeposit #InterestRates #Banking #GangaNews

https://www.ganganews.com/india/yes-bank-reduces-fixed-deposit-interest-rates/