Crisis-hit Paytm gets govt panel’s nod to invest in payments arm: Report

India’s beleaguered Paytm has secured approval from a government panel that oversees investments linked to China to invest Rs 50 crore ($6 million) in a key subsidiary, three sources with direct knowledge of the matter said.

The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations.