Paytm payments bank is in deep trouble. India's financial intelligence unit has imposed a penalty of $662,565 on Paytm's payments bank for alleged money laundering, India's finance ministry said.

Paytm payments bank fined for money laundering

India's central bank has extended the deadline for Paytm payments bank to wind down to March 15.

RBI extends transaction curbs deadline to March 15

The Reserve Bank of India (RBI) has issued a directive to prohibit Paytm Payments Bank Limited (PPBL) from accepting deposits or top-ups in any customer account, including wallets and FASTags, effective from February 29 onwards.

India RBI hits Paytm payments bank

Paytm's founder and CEO, Vijay Shekhar Sharma, has expressed interest in increasing his stake in the Indian fintech giant. This comes weeks after he became the largest shareholder by acquiring shares from the Chinese firm Antfin.

CEO Vijay Sharma drives Paytm's Indian ownership

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