"Paytm's E-Wallet Crisis: Impact and Future Outlook"
TL;DR Summary
India's government has effectively shut down the e-wallet service Paytm, used by over 300 million people, due to its parent company's bank failing to prevent money laundering. Users can no longer add funds to their wallets and have until March 15 to transfer balances to rival e-wallet products. The Reserve Bank's actions reflect the government's push to shrink India's cash economy and combat financial crime, despite Paytm's massive adoption and local popularity.
- India effectively kills e-wallet used by over 300 million The Register
- Paytm: Rockstar Indian fintech start-up faces serious crisis BBC.com
- Paytm shifts nodal account to Axis Bank: What this means for users The Times of India
- Vijay Shekhar Sharma's message on Paytm QR code, soundbox: Will work 'today, tomorrow…' Hindustan Times
- Paytm Crisis Explained: Timeline Of PPBLs Woes And What To Expect After March 15 NDTV Profit
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