Business · Companies · 1 day ago
Paytm gets preliminary RBI approval to restart wallet services
India’s Paytm received preliminary approval from the RBI on Friday to offer digital wallets and other prepaid payment products.
The approval went to Paytm Payments Services, a wholly owned subsidiary, rather than Paytm Payments Bank.
The unit still needs the RBI’s final authorisation before it can offer these services to customers.
The move could help Paytm restart its wallet services after they were effectively halted by regulatory action.
More than two years ago, the RBI barred Paytm Payments Bank from accepting new deposits and wallet top-ups, citing regulatory non-compliance and supervisory concerns.
The RBI cancelled the bank’s licence earlier this year, and Paytm’s shares reached a record high of 1,960 rupees after the latest approval.
Paytm received preliminary RBI approval on November 13, 2026, for its payments services unit to issue prepaid payment products, including digital wallets.
Paytm Payments Services can offer these products to customers only after receiving the RBI’s final authorisation.
Paytm shares reached a record high of 1,960 rupees after the approval.
The approval allows Paytm’s wholly owned subsidiary to move towards restarting wallet services.
More than two years earlier, the RBI barred Paytm Payments Bank from accepting fresh deposits and wallet top-ups over regulatory non-compliance and supervisory concerns.
- Who
- Paytm Payments Services, a wholly owned subsidiary of Paytm, received the preliminary approval from the RBI.
- What
- The approval allows the unit to move towards offering prepaid payment products, including digital wallets. It still needs final authorisation.
- When
- Friday, November 13, 2026.
- Where
- Not stated.
- Why
- The sources do not state why the RBI granted the preliminary approval.
This story does not have two clearly opposing sides.
The RBI barred Paytm Payments Bank from accepting fresh deposits and wallet top-ups over regulatory non-compliance and supervisory concerns.
The RBI cancelled the banking licence issued to Paytm Payments Bank.
Paytm received preliminary RBI approval for its payments services unit to issue prepaid payment products, including wallets.
- Approval status
- Preliminary RBI approval; final authorisation is still required
- Subsidiary
- Paytm Payments Services
- Product scope
- Prepaid payment products, including digital wallets
- Share price
- 1,960 rupees, a record high
- Earlier RBI action
- Paytm Payments Bank was barred from fresh deposits and wallet top-ups more than two years ago