Paytm gets govt nod for downstream investment into payment services arm

Paytm got approval from the finance ministry to invest in its payment services business, the fintech firm said on Wednesday. With the approval, the payment services business will resubmit application for its payment aggregator license.

“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,” the company said in a filing.