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Shares of One97 Communications Ltd, which owns Paytm brand, plummeted 20 per cent on Thursday as the RBI directed Paytm Payments Bank Ltd (PPBL) to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. RBI Action Against Paytm: Finance Tech Company Shares Slump 20%; Hit Lower Circuit Limit Amid Restrictions on Its Payments Bank.

"We are genuinely overwhelmed by the support that we have received from various banks, large banks of this country, and those who are already partners. More regional and large banks have reached out at a very senior level to say that they will be very happy to help us," Vijay added. Paytm Accelerating Partnership With Other Banks, Says CEO Vijay Shekhar Sharma; Removing Dependency on Paytm Payments Bank.

Analysts expect the downside pressure on the stock could continue until 190-200 a share level, which they feel is fair value.

India Business News: Jio Financial Services experienced a 5% drop in shares during its listing, contrary to market expectations. Commencing trading at the BSE, the stock o

However, except for Adani Enterprises and Adani Ports, all other stocks of the conglomerate closed in the red. Meanwhile, several questions were raised over lawyer Cyril Shroff's role in SEBI panel, which is probing the Hindenburg-Adani matter.