Paytm shares hits upper circuit again, surged by 5% to 376.25
India Business News: NEW DELHI: One97 Communications shares, which operates under the brand name Paytm, hits upper circuit again on Tuesday.
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India Business News: NEW DELHI: One97 Communications shares, which operates under the brand name Paytm, hits upper circuit again on Tuesday.
The article analyses the RBI's recent initiatives towards encouraging self-regulating organizations in the fintech industry.
Besides the card schemes, even banks which offer commercial credit cards have been asked to halt these payments as well. "I am told that there could be a meeting with the regulator next week and we are hopeful some clarity will emerge," said a senior industry executive in the know. So what could be the potential issue here? ET explains.
Paytm Payments Bank crisis latest: The central bank, on January 31, ordered Paytm's banking unit Paytm Payments Bank Ltd (PPBL) to stop its mobile wallet business along with other activities.
India's MakeMyTrip and PolicyBazaar have expressed concerns to the central bank about the impact of its crackdown on Paytm, a digital payments firm. They argue that the decision could harm investment in the fast-growing financial-technology sector, discourage innovation, and send a negative signal to the global business community.