The Hindu Editorial Analysis
The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.
Paytm needs NOD.
- Paytm Payments Services (PPSL) will need the government’s approval for investments from its parent One97 Communications to get a payment aggregator license from the RBI.
- In November 2022, while granting licenses to payment aggregators, the RBI asked Paytm to resubmit its application within 120 days after taking the necessary steps.
- The central bank had also barred it from onboarding new online merchants.
- Antfin (Netherlands) Holdings, an affiliate of China’s Alibaba Group, holds close to a 25% stake in the Paytm parent.
- Last month, Alibaba exited its direct holding in the compa ny by selling a 3.3% stake.Paytm has informed ex- changes that the RBI has extended the timeline for submitting the application.
- “The letter from RBI says that PPSL can continue with the online payment aggregation business, while it awaits approval from the government for past investment from One97 Communications into PSL under guideline,” Paytm said.
- According to the RBI’s letter, on receipt of approval 1 from the government, PPSL t will have 15 days to submit the application seeking authorisation for PPSL to operate as an online payment aggregator.
- However, if any adverse decision is taken by the government, then the same shall be informed to the RBI immediately.
- During this process, PPSL can continue with its online payment aggregation business for existing partners without onboarding any new merchants.
- The filing also said that the RBI restrictions are applicable only to the onboarding of new online merchants, and we can continue to provide payment services to our existing online merchants. Furthermore, for offline business, One97 Communica- tions can continue to onboard new merchants and offer them payment services.
- How the adverse decision of the government can affect RBI?
- Why does the PPSL need government approval and for what?
- Unfathomable– incapable of being fully explored
- Culpable– responsible for something bad
- Diabolical– characteristic of the devil
- Eventuate– occur as a result
- Whimsy– playfully quaint or fanciful behavior
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