Paytm Rules Out NBFC Licence Plans After RBI Cancels PPBL’s Banking Licence

Paytm rules out NBFC licence plans after RBI cancels PPBL’s banking licence

Paytm cancels NBFC licence plans following RBI's revocation of PPBL’s banking licence, focusing on growth in payments market.

Paytm rules out NBFC licence plans

New Delhi, May 7 (PTI) Fintech major One97 Communications, which operates the Paytm brand, has ruled out plans to apply for a Non-Banking Financial Company (NBFC) licence. During the company’s Q4 earnings call on Thursday, Paytm President and Group CFO Madhur Deora said, "We're not super excited about going for an NBFC licence.” He noted Paytm’s preference for a "win-win" partnership model where Paytm handles distribution, technology, and coll…