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Paytm is looking to migrate UPI payments to four banks and is eyeing TPAP status before March 15. This would help Paytm settle UPI transactions once it gets the third-party app provider licence, reports suggested.
It held a 17.5% stake in Paytm in September 2022 later it trimmed its ownership through multiple open market deals. After this sale, the company's stake in Paytm’s parent One97 Communications went down to 2.83 percent from 5.01 per cent earlier.
Paytm share price today again rose 5 per cent. Will the rally continue?
Paytm stock price may be rising but some brokerage firms have downgraded the stock after RBI's action.
Shares of Paytm have been in a freefall following RBI’s drastic action on Paytm Payments Bank. The action can hit the company’s revenue hard.