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Union Finance Minister Nirmala Sitharaman is expected to meet fintech startups next week amid regulatory concerns, after the central bank acted on Paytm Payments Bank and put certain curbs.
The investment bank has moved the stock to “not rated”, weeks after lowering it to underperform after the Reserve Bank of India last month ordered Paytm Payments Bank to halt its key operations, citing non-compliance.
Jefferies Financial Group Inc. has become the first major foreign brokerage to drop coverage on Paytm-operator One 97 Communications Ltd. until the news flow around the struggling fintech major "settles down".
International Business News: Jefferies Financial Group Inc.
Jefferies Financial Group Inc has dropped coverage on Paytm-operator One 97 Communications Ltd until the news flow around the struggling Indian fintech major “settles down”.