Friday, April 12, 2024
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Fastag

In the morning trade, the 30-share BSE Sensex benchmark slumped 288.71 points or 0.39 per cent, while NSE Nifty fell 71.55 points to 22,141.15.

This direction came after the Indian Highways Management Company Ltd (IHMCL) barred Paytm Payments Bank from issuing fresh FASTags.

The downgrade follows the recent regulatory action taken on Paytm Payments Bank by the Reserve Bank of India.

RBI Governor Shaktikanta Das said that RBI will soon issue a set of Frequently Asked Questions (FAO) targeting inconveniences and difficulties being faced by customers and depositors.

An inter-ministerial committee is examining investments from China in PPSL and a decision will be taken on the FDI issue after due consideration.

Paytm stated in a blog post that it assures users the services will be available without any disruption. Additionally, it mentioned partnering with other banks to offer services following the RBI directive on its associate PPBL.

The advisory committee will be headed by former SEBI chairman M Damodaran, CA MM Chitale, and erstwhile chairman and managing director of Andhra Bank, R Ramachandran.

Manju Agarwal has reportedly resigned from the board following an RBI order that imposed restrictions on the bank's operations.