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Paytm Payment Bank Ltd (PPBL) a wholly owned subsidiary of fintech major – its parent company One97 Communications Ltd, (OCL) is facing stiff RBI action due to its protracted indifference towards operational risk that reached...
From February 1-5 (three days of trading), the company's stock tumbled over 42 per cent, wiping out Rs 20,471.25 crore from its market valuation
Paytm forms an advisory panel to address compliance and regulatory matters. The panel, chaired by M Damodaran, will work closely with Paytm's board. Paytm Payments Bank faces regulatory challenges and the stock value of its parent company, One97 Communications Ltd, declines.
The RBI, on January 31, imposed major business restrictions on Paytm Payments Bank citing prolonged non-compliance to prudential regulations.
Shares of One97 Communications Ltd, which owns the Paytm brand, tanked nearly 9 per cent on Friday as investors continued to dump the stock. Extending its previous day's decline, the stock dived 8.67 per cent to Rs 408.30 on the BSE. Shares of the company tumbled 8.20 per cent to Rs 410 on the