Paytm receives third-party application provider licence from NPCI
Axis Bank, HDFC Bank, State Bank of India and YES Bank will act as payment system provider (PSP) banks to Paytm parent One97 Communications
Axis Bank, HDFC Bank, State Bank of India and YES Bank will act as payment system provider (PSP) banks to Paytm parent One97 Communications
The measures will minimise concentration risk in the UPI system by having multiple payment app providers, says RBI.
The fintech stock has lost 53% since January 31, 2023, while its market cap has fallen over ₹25,500 crore in the last 13 sessions.
On Thursday, Paytm parent One 97 Communications fell another 5% after hitting 10% lower circuit in the past two sessions.
Shares of the Vijay Shekhar Sharma-led One 97 Communications hit a record low of ₹342.15 apiece in intraday trade.
Former SEBI chairman M Damodaran-led panel will work with the Paytm Board in further strengthening compliance and regulatory matters
The fintech major is reportedly in advanced stages of talks with e-commerce startup Bitsila and the deal is likely to close in the coming week.
Business restrictions are imposed only when constructive engagement doesn't work, RBI governor says on the regulator's action on Paytm Payments Bank.
The fintech stock has rebounded 19.5% from day’s low of ₹395.5 to touch a high of ₹472.50 on the BSE.
The fintech stock has declined 42% in the last three sessions, taking the Noida-based company's market capitalisation under ₹30,000 crore.