Paytm gets govt approval for downstream investment in payments arm PPSL

Fintech firm One97 Communications — the owner of Paytm brand — has received the government’s approval for downstream investment in wholly owned subsidiary Paytm Payments Services Ltd, a regulatory filing said on Wednesday.

The company will reapply for a payment aggregator (PA) licence, it said.

“We would like to inform you that PPSL has received approval from the Government of India, Ministry of Finance, Department of Financial Services, vide its letter dated August 27, 2024, for downstream investment from the Company into PPSL.