RBI has cancelled the license of Paytm Payments Bank after previously barring it from accepting fresh deposits since 2024. The decision signals the bank can’t continue operations as it did earlier, putting its account holders and associated services in focus. The RBI action follows heightened regulatory scrutiny of payment banks and their compliance obligations.
Jio Financial Services says it is expanding its lending book through property and asset-backed corporate loans, keeping its focus on secured segments for now. The company is prioritising balance sheet strength before moving into unsecured credit. Alongside lending growth, its payments bank and payment aggregator businesses are also expanding as it targets a broader full-service financial model.
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