Paytm news: In a matter of good news for Paytm and its stakeholders the National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users. The onboarding of the new users is notably subject to the adherence to all procedural guidelines and circulars. Moreover the NPCI move is being seen as major relief for the Paytm shareholders following the earlier RBI restrictions in onboarding new UPI users on the Paytm app. NPCL gives approval to Paytm In March the NPCI gave approval to Paytm to participate in UPI as a Third-Party Application Provider (TPAP). The NPCI allowed the company to continue UPI transactions through four banks -- SBI Axis Bank HDFC Bank and YES Bank as per a report by news agency PTI. In a late evening filing on Tuesday Paytm informed the BSE that it has received approval from the NPCI to onboard new UPI users. ...we would like to inform you that vide letter dated October 22 2024 the National Payments Corporation of India (NPCI) has granted approval to the company to onboard new UPI users with adherence to all NPCI procedural guidelines and circulars the Paytm filing which also attached the NPCI letter granting the nod said. According to the letter the approval is subject to adherence to all NPCI procedural guidelines and circulars issued from time to time including guidelines and circulars issued specifically on risk management brand guidelines for app and QR multi-bank guidelines TPAP market share and customer data. The company will also need to adhere to the requirements outlined in the tri-partite agreement with NPCI and PSP Banks. It has also been asked to ...adhere to all laws and regulatory guidelines as applicable and issued from time to time including Payments and Settlement Act 2007 Information Technology Act 2000 Digital Personal Data Protection Act 2023 and circular on Storage of Payment System Data 2018 as per the NPCI letter addressed to Vijay Shekhar Sharma founder and CEO of One97 Communications. One97 Communications is the parent company of fintech firm Paytm. Statement from NPCI While permitting One97 Communications (OCL) to onboard new users on its UPI application the NPCI noted that it had received a letter from the company on August 1 requesting approval for onboarding new UPI users on the Paytm app which was stopped as per RBI directions dated January 31 and February 16. Upon examination of your request we hereby accord our approval and permit One97 Communications Private Limited (OCL) to onboard new users on their UPI application the Paytm filing said listing out the various conditions. In a major action against Paytm Payments Bank (PPBL) the RBI had on January 31 directed it to stop accepting deposits or top-ups in any customer accounts wallets FASTags and other instruments as it cited persistent non-compliance and continued material supervisory concerns. (With inputs from agencies)