Zomato, the Indian food delivery giant, has acquired the entertainment ticketing business of financial services firm Paytm for $ 244.1 million, signaling a strategic move to expand its “going out” offerings. The acquisition, among the largest M&A deals among new-age Indian tech companies, includes Paytm’s ticketing services for movies, sports, and events. As part of […]
Jio Financial says not in talks to acquire Paytm’s wallet business
Reliance Industries spinoff Jio Financial Services said Monday evening that it is not negotiating with Paytm to acquire its wallet business, quashing “speculative” media reports as the Noida-headquartered firm scrambles to put out a fire from the central bank’s clampdown last week. The Hindu Business Line reported over the weekend that Paytm and Jio Financial […]
India’s central bank weighs revoking Paytm’s payments bank licence
The Reserve Bank of India is discussing more penalties on Paytm Payments Bank and may reach a decision within days, two sources familiar with the matter told TechCrunch. The central bank has internally discussed revoking the payments bank licence of Paytm, the sources said, requesting anonymity as they are not authorized to speak to the […]