Paytm Set for Small Win as India Close to Approving Investment

Paytm is close to winning India’s approval to invest in its key payments gateway arm, a decision which has been pending for two years and which would give the troubled fintech company some respite.

The government grew more supportive of the investment after Paytm’s Chinese shareholder Ant Group Co. lowered its stake in the Indian firm, people familiar with the matter said, with one of the people saying the approval could come within days. A federal approval is needed because Ant’s stake in Paytm makes its outlay in the Paytm Payments Services Ltd. arm a direct foreign investment.