Paytm

Paytm saw its share prices increase by 5 per cent on August 21, just a day later it announced the decision to sell its entertainment ticketing arm to Zomato.

Paytm partners with Axis Bank to offer point of sales solutions and card payment devices

Zomato reports talks to acquire Paytm movies and Paytm insider verticals worth INR 1,600 - 1,750 crore.

Paytm Money's former CEO Varun Sridhar has been named CEO of Paytm Services.

Paytm Payments Bank users are still able to withdraw or transfer money from their accounts, but they are no longer able to deposit money into them.

With Paytm Card Soundbox, the company said its aims to solve two problems for merchants — accepting card payments along with getting instant audio alerts for all payments

In a letter to the shareholders, Sharma also spoke about Paytm pioneered mobile payments in India and led mass adoption with innovations like QR Codes and Soundbox

The transaction will be conducted through Vijay's 100% owned overseas entity, Resilient Asset Management BV, based in the Netherlands

In an official release, the fintech giant claimed that it continues to solidify its leadership in in-store payments with 82 lakh devices deployed, a growth of 101% YoY

With loans disbursed through the platform totaling INR 14,845 crore in the first quarter, up 167% year-over-year, Paytm's lending business continued to expand.

The market value of the total sale was not declared in the company's regulatory filing, but reports said that it could be worth around $120 million

The report further added that shares of the company fell as much as 8.8% to 528 rupees in afternoon trading, and was last down 5.8% as of 3:00 p.m. IST

It is said that the company will not onboard new online merchants till the time approvals remain pending

The Board also announced the retirement of independent director, Mark Schwartz, upon the completion of his service tenure

As per reports, 99.67 per cent votes were in favour of Sharma's re-appointment while 0.33 per cent voted against the resolution

As per reports, both the firms expressed different opinions about the reason for their disagreement

The shareholders are also likely to vote on the adoption of financial statements, appointment of Madhur Deora as whole-time director for five years and there will also be resolutions to approve contributions to charitable trusts and other funds of up to INR 10 crore

Jayant Sinha, BJP leader and former Union minister chaired the parliamentary standing committee on finance, has been analyzing various aspects of competition in the marketplace, mostly within the technology platforms

In a letter to shareholders, he has also said that Paytm is committed to building a profitable company and believes that it should be operating EBITDA breakeven in the next 6 quarters

On World Entrepreneurs' Day 2021, let's take a look at India's most valued startups that have managed to shine despite an overall slump in the market.

Paytm Payments Bank has the lowest technical decline rate of 0.02% among remitter banks and 0.04% among beneficiary banks, as opposed to about 1% rate of all other major banks