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Paytm is looking to migrate UPI payments to four banks and is eyeing TPAP status before March 15. This would help Paytm settle UPI transactions once it gets the third-party app provider licence, reports suggested.

As part of this process to reduce dependencies, Paytm and Paytm Payments Bank have mutually agreed to discontinue various inter-company agreements with Paytm and its group entities.

JFS shares climbed 14.50 per cent to hit a record high of Rs 347 on BSE. The stock later traded at Rs 330.70, up 9.12 per cent. At this price, JFS was valued at Rs 2,10,325.47 crore against its previous day's market value of Rs 1,92,536.28 crore.

Finance minister (FM) Nirmala Sitharaman is set to meet fin-tech leaders on 26th February to ‘reassure’ them and address complaints regarding stringent supervision by the Reserve Bank of India (RBI). It will be disappointing if the FM succumbs to pressure in an election year.

YES Bank shares were up 2.41 per cent at Rs 29.71 on BSE as Morgan Stanley Asia (Singapore) PTE emerged in a bulk deal that saw a shareholder CA Basque Investments, a Carlyle Group entity, selling Rs 1,056 crore worth shares

The directorate of enforcement (ED) has launched a preliminary investigation or a pre-open inquiry into alleged violations related to the Foreign Exchange Management Act (FEMA) in the Paytm Payments Bank Ltd case, says a report. Meanwhile, citing regulatory actions, the National Highway Authority of India (NHAI) has removed Paytm Payments Bank from its list of 30 authorised banks for the FASTag service.

Since January 31, after the RBI imposed its restrictions, Paytm shares have shed more than half their value, tanking around 53 percent.

Equity benchmark indices took a sharp plunge at Wednesday's open tracking a global market selloff

In the last 10 trading days since the RBI ban was announced, the stock has lost about 55% of its value or Rs 26,000 crore in market capitalisation.