Paytm gets government nod for investment in payments arm

India’s Paytm has got approval from the government for its 500 million rupees ($5.97 million) investment in a key subsidiary, a top finance ministry official told Reuters on Friday.

The approval, which was stuck for months due to the company’s link to China, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations.