The Reserve Bank of India (RBI) has delivered a significant setback to popular digital payments platform, Paytm. In a recent development, RBI rejected Paytm’s request to allow its customers to add money to their wallets via unified payments interface (UPI) without going through a two-step authentication process. The central bank’s decision comes amidst concerns over customer data security and fraud prevention. This move is expected to impact Paytm’s user experience and convenience, potentially affecting its growth in the highly competitive digital payments space.

Meanwhile, the hiring of IT freshers in India has hit an all-time low. With the ongoing economic downturn caused by the COVID-19 pandemic, companies have reduced their recruitment efforts, especially when it comes to entry-level positions. The lack of job opportunities has led to increased competition among fresh graduates, making it even more challenging for them to secure employment. The situation highlights the need for additional support and initiatives to revive the job market and provide opportunities for young professionals.

For more details, read the full article on Economic Times.