Top executives of Razorpay, PhonePe, GooglePe, AmazonPe along with officials of National Payments Corporation of India (NPCI) were also present in this meeting.
On behalf of the government, apart from the Finance Minister, Financial Services Secretary Vivek Joshi, Secretary of the Ministry of Electronics and Information Technology S Krishnan, RBI Deputy Governor T Rabi Shankar were present. Paytm representatives were not invited for this meeting.
Finance Minister Nirmala Sitharaman on Monday met the heads of about 50 companies in the Fintech sector. This meeting was called to discuss the regulatory issues related to fintech companies and strict adherence to the rules by the companies.
Officials said that along with top executives of Razorpay, PhonePe, GooglePe, AmazonPe, officials of National Payments Corporation of India (NPCI) were also present in this meeting. Apart from the Finance Minister, Financial Services Secretary Vivek Joshi, Ministry of Electronics and Information Technology Secretary S Krishnan, RBI Deputy Governor T Rabi Shankar were present on the government side.
This meeting has taken place at a time when RBI has taken strict action against Paytm Payments Bank for not following the rules. Paytm representatives were not invited for this meeting.
Paytm can partner with four banks
Troubled digital payment platform Paytm may partner with four banks to continue UPA transactions. According to sources, Paytm is in talks with Axis Bank, HDFC Bank, SBI and Yes Bank for partnership. Currently, RBI has given permission to Paytm Payments Bank to operate its business till March 15.
