Brief by Shorts91 Newsdesk / 02:31pm on 26 Feb 2024,Monday Business
Under the RBI's directive to wind down its banking operations by March 15, Paytm is in discussions with Axis Bank, HDFC Bank, State Bank of India (SBI), and Yes Bank for potential UPI partnerships. The RBI instructed NPCI to evaluate Paytm's request for multi-bank facilitation. Talks aim to commence collaborations with technologically adept major banks. As the third-largest UPI app in India, Paytm plans user migration to partner banks' UPI handles. NPCI's scrutiny of the banks' technology and infrastructure is anticipated over the next month.
