FDI flow from China in Paytm Payments under scanner

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Government is examining FDI from China in Paytm Payments Services, the payment aggregator subsidiary of One97 Communications, sources said. In Nov 2020, Paytm had applied for a licence with RBI to operate as a payment aggregator under the guidelines on Regulation of Payment Aggregators and Payment Gateways. However, in Nov 2022, RBI rejected its application and asked the company to resubmit it, so as to comply with Press Note 3 under FDI rules.

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