Shares in online payment platform giant PayTM fell as much as 26 % in their market debut, minutes after debuting on the stock market as India’s biggest ever Initial Public Offering (IPO). The shares opened for trading at ₹ 1,950 on the National Stock Exchange (NSE), at a decline of 9.3 per cent or ₹ 200 from its issue … Read more
Paytm’s stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold. The shares were sold at Rs 535.90 worth Rs 13.93 crore. Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total equity of … Read more
The Reserve Bank of India on Friday gave a 15 day relaxation to Paytm payments bank on accepting deposits. The last date will now be March 15 from the earlier date of February 29. In its release the Central Bank said “No further deposits credit transactions or top-ups shall be allowed in any customer accounts, prepaid instruments, … Read more
Speaking about RBI’s order against Paytm Payments Bank (PPB), Reserve Bank of India Deputy Governor Swaminathan J. asserted that the action was taken against the fintech player after persistent non-compliance. “We don’t want to discuss details of action on Paytm Payments Bank. This is supervisory action for persistent non-compliance. Such action is invariably preceded by months and sometimes years … Read more