Pai Platforms: Paytm's Reinvention.?
In response to challenges data-faced by its banking unit, paytm has opted for a rebranding initiative for its e-commerce platform, now known as Pai Platforms. This strategic move comes amidst difficulties encountered by paytm Payments bank, which recently data-faced stringent action from the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india (RBI).
Notably, an audit uncovered instances where more than 1000 bank accounts were linked to a single PAN card. RBI governor Shaktikanta Das acknowledged that action was taken against paytm Payments bank due to non-compliance despite adequate time given for rectification. Interestingly, sources indicate that the rebranding of the paytm e-commerce platform had been underway for the past three months, suggesting it may not be directly linked to the recent crisis surrounding paytm Payments Bank.
Elevation capital holds the largest share in Pai Platforms, a change approved by the Registrar of Companies on february 8th. The newly named entity, Pai Platforms Private Limited, represents a significant development in Paytm's corporate strategy. Additionally, recent acquisitions, such as e-commerce startup Innobits Solutions Private Limited, showcase Paytm's continued business diversification.
Notably, an audit uncovered instances where more than 1000 bank accounts were linked to a single PAN card. RBI governor Shaktikanta Das acknowledged that action was taken against paytm Payments bank due to non-compliance despite adequate time given for rectification. Interestingly, sources indicate that the rebranding of the paytm e-commerce platform had been underway for the past three months, suggesting it may not be directly linked to the recent crisis surrounding paytm Payments Bank.
Elevation capital holds the largest share in Pai Platforms, a change approved by the Registrar of Companies on february 8th. The newly named entity, Pai Platforms Private Limited, represents a significant development in Paytm's corporate strategy. Additionally, recent acquisitions, such as e-commerce startup Innobits Solutions Private Limited, showcase Paytm's continued business diversification.