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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, following the RBI's crackdown
Earlier in the day, it was reported that the RBI may consider either cancelling the licence of Paytm PB or superseding its board after the settlement of all pipeline transactions and nodal accounts are completed by March 15.
The Paytm chief executive was told the government has no role to play in connection with the latest RBI restrictions when he went to meet Finance Minister Nirmala Sitharaman yesterday, said people familiar with the matter.
The stock jumped 9.99 per cent to Rs 496.75 on the BSE after a firm beginning
Following the Reserve Bank of India's (RBI) recent restrictions on Paytm, the company's CEO, Vijay Shekhar Sharma, met with Finance Minister Nirmala Sitharaman to discuss the matter. However, the Finance Ministry confirmed that the government would have no role to play in the RBI's actions.