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Paytm Money Gets SEBI Node For Selling Mutual Funds

patm-money

eWallet to Mutual Fund – Paytm gets SEBI node as registered investment advisor for selling of mutual funds in India. Paytm Money – the wholly-owned wealth management arm of financial services platform of Paytm. After getting node from SEBI, Paytm is joining hands with close to a dozen AMCs (asset management companies) and will roll out wealth management and investment products ...

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RBI May Soon Close the Mobile Wallets

rbi-ewallet-close

Reserve Bank of India (RBI) revised Know your customer guidelines (KYC) may close the digital wallets business in India.Earlier in the month of October, 2017, RBI had given the deadline of 28th Feb 2018 for completion of Full KYC in all the Digital Wallet accounts maintained by eWallet companies. In the revised guideline, RBI had clearly issued the warning stating ...

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Why Transfer of Funds Between Mobile eWallets Bad for Banks ?

ewallets transfer

RBI has allowed the transfer of funds facilities between different Mobile eWallets. Now any of the mobile ewallets users like PayTm, Mobikwik, Oxigen, Freecharge etc may transfer of money between themselves i.e. from PayTm to freecharge or Oxigen or Mobikwik or Jio Money.  Earlier it was restricted by RBI under Prepaid Instruments Guidelines or PPI’s. RBI has announced to open ...

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