Paytm Rebounds: NPCI Greenlights New UPI User Onboarding

Paytm has received approval from the National Payments Corporation of India (NPCI) to onboard new UPI users. This comes as a relief after earlier RBI restrictions on Paytm Payments Bank. The approval requires adherence to procedural guidelines and laws, ensuring compliance with risk management and data protection standards.

The National Payments Corporation of India (NPCI) has approved Paytm to onboard new UPI users, bringing relief to the company after restrictions from the Reserve Bank of India (RBI) earlier this year.

Following the RBI's earlier restrictions on Paytm Payments Bank Limited (PPBL), the NPCI's approval allows Paytm to continue UPI transactions through SBI, Axis Bank, HDFC Bank, and YES Bank.

The approval is subject to strict adherence to NPCI's procedural guidelines, laws like the Payments and Settlement Act, and recent data protection acts.

(With inputs from agencies.)