Snapdeal reported a loss of 29.6 billion rupees in the financial year to March 31, 2016.
Paytm-Reliance Capital deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.
With hundreds of employees being handed out pink slips by companies such as Snapdeal and Stayzilla,
Paytm Mall aims to offer a combination of the Mall and Bazaar concepts to Indian consumers.
The government sent the notices under the Emblems and Names Act of 1950, which bars use of Prime Minister’s name and picture for commercial use.
Finance Minister Arun Jaitley said promotion of digital economy is an integral part of Government’s strategy to clean the system.
Public viewing of Sharma makes his celebratory moments reek of hubris and hard-to-swallow over confidence – the idea of “success gone to his head” — which is unbecoming to the image of an industry leader whose product matters.
Paytm announced that it has partnered with PVR, Cinepolis, amusement parks and gaming parlours to enable cashless payments.
“Today, Reserve Bank of India gave permission to formally launch Paytm Payments Bank. We can’t wait to bring it in front of you,” Vijay Shekhar Sharma, founder of One97 Communications, said in a blogpost.
Odisha government has said shifting to the cashless and digital payment system will not be successful unless Internet connectivity is improved
Paytm plans to enable five million merchants to leapfrog to digital payments in 2017
Ten metro stations in Delhi will go completely cashless in their transactions from January 1, 2017 and that isn’t good
Paytm earlier said it has found a bug in its iOS app, the reason its users are facing service outages.
Paytm will send an app update to Apple for approval, post which it will be sent out to iOS users.
It is rare for the country’s premier investigation agency, overburdened with work and short-staffed, to take up such cases as Paytm is neither a government financial institution nor is its loss connected to the exchequer.