Earlier this month, Reuters had reported the Enforcement Directorate had started a probe into One 97 Communications, also known as Paytm, on suspicion of violation of foreign exchange rules. The firm had denied allegations of forex violations.
Paytm Share: Paytm stock came under pressure today after global brokerage firm Macquarie, joining the list of its peers, downgraded the stock's rating to 'Underperform'. Shares of One 97 Communications, parent company of payments aggregator Paytm, tanked over 9% on Tuesday.
The share price had declined by 20 per cent, 20 per cent and 10 per cent on Thursday, Friday and Monday's trading sessions respectively after RBI announced a ban on any newer deposits or top ups on accounts, digital wallets or FASTags post February 29. The central bank cited several compliance issues as a reason behind its move.