Paytm has won the federal government’s approval to invest in its key payments gateway arm, a sliver of good news for the troubled Indian fintech.
The finance ministry approved Paytm’s investment in Paytm Payments Services Ltd., the fintech said in a public disclosure Wednesday. The investment of less than 1 billion rupees ($11.9 million) allows Paytm to beef up its online transactions processing unit, Bloomberg News reported previously.
