In my capacity or anybody from OCL, we don t have any connection with the payments bank, Vijay Shekhar Sharma, CEO, of One97 Communications Ltd parent company of Paytm said during a webinar
Paytm founder Vijay Shekhar Sharma on Friday morning - amid growing concern over the operational status of the digital payments app - has told users "your favourite app is working (and) will keep working beyond February 29 as usual".
Jefferies has downgraded Paytm stock to underperform from its previous buy rating, while slashing the price target for the stock by more than half to Rs 500.
Fintech giant Paytm's parent company, One97 Communication, has laid off 100s of employees across verticals due to the firm's implementation of Artificial Intelligence (AI) to bring automation in its process and ensure cost-cutting.