ED searches Paytm, PayU premises: Report

The Enforcement Directorate (ED) was conducting searches on certain premises of One 97 Communications Ltd’s Paytm and payment solutions provider PayU, as per a Reuters report.

Commenting on the matter, a Paytm spokesperson said, “as we have mentioned before, ED continues to seek information about certain merchants from various payment service providers, we have shared the required information.”

Clamping down on illegal loan apps flourishing outside the regular banking channels, a high-level meeting chaired last Thursday by Finance Minister Nirmala Sitharaman asked the Reserve Bank of India (RBI) to prepare a ‘whitelist’ of legal apps to be permitted in app stores,