Paytm, a leading Indian financial services firm, has received regulatory approval to resume adding new UPI payments users, following an eight-month Paytm has received regulatory approval to resume adding new UPI payments users,

India's Paytm said late on Tuesday it received approval from the country's payments authority to onboard new unified payment interface (UPI) users, providing some relief for the financial services firm after a central bank-ordered ban on its banking unit.

Paytm shared in a stock exchange filing that the NPCI allowed the company to onboard UPI users after regulatory action taken against the company in early 2024.

The National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars, according to the company. Photograph: Rupak De Chowdhuri/Reuters The move is ...

The NPCI nod is expected to come as a relief to Paytm, which had suffered a blow following the Reserve Bank of India's restrictions earlier this year on associate company Paytm Payments Bank Limited (PPBL) in onboarding new UPI users on the Paytm app.

Paytm received NPCI approval for adding new UPI users which paves the way for re-accelerating its dwindling user base and further signaling an easing of regulatory stance, analysts said.