
UPI transactions to remain free for customers, clarifies NPCI
Bank account-to-account transactions continue to remain free for customers and merchants, says UPI operator NPCI.
Bank account-to-account transactions continue to remain free for customers and merchants, says UPI operator NPCI.
The stock price got a boost amid a report that Sunil Mittal is seeking a stake in Paytm by merging his financial services unit into Paytm Payments Bank.
The companies whose applications were returned by the RBI are Freecharge, PayTM, PayU Payments, and Tapits Tech.
This means that users can make payments without entering a password. The UPI LITE feature was enabled by the National Payments Corporation of India on the app.
The Jack Ma-founded firm, which held 6.26% direct stake in Paytm as of December 2022, sold a partial 3.1% shares in January and the remaining 3.16% stake on February 10.
Paytm parent One97 Communications shares surged 35% in the last four sessions as investors cheered its December quarter earnings.
Paytm share price rallied 20% to hit an intra-day high of ₹669.60 on the BSE on Tuesday after some foreign brokerages recommended “Buy” rating on the stock.
During the quarter, the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) before ESOP improved by ₹452 crore YoY.
The Paytm stock ended the day at ₹542.25 on the BSE, down 6.4%.
The total loan disbursements grew 357% YoY to ₹9,958 crore, while the number of loans grew 117% YoY to 0.37 crore in Q3 FY23.