Indian fintech Paytm wins a major regulatory battle days after key investor exit

Indian fintech giant Paytm has secured a significant regulatory victory as it has received approval from the Reserve Bank of India (RBI) to resume onboarding new online merchants and offering its digital payment services. This development comes just days after the news of Paytm's key investor, Alibaba Group, reducing its stake in the company. The RBI had previously barred Paytm from onboarding new customers due to certain compliance issues. However, the latest approval from the central bank allows Paytm to continue its growth trajectory and cater to the increasing demand for digital payment solutions in India. Paytm's ability to navigate this regulatory challenge and secure the RBI's approval is seen as a testament to the company's resilience and its commitment to compliance. This victory is crucial for Paytm, as it aims to maintain its position as a leading player in the Indian fintech market, which has witnessed significant growth and competition in recent years.