Paytm Shares Rise Amid Regulatory Talks

Paytm Shares Rise Amid Regulatory Talks

VoM News Desk | February 7, 2024 | 11:29 AM IST | Breaking News | Follow on Google News

Paytm Shares Rise Amid Regulatory Talks/Reuters

Paytm Shares Rise Amid Regulatory Talks

Paytm’s shares surged by 10% after reports revealed that the CEO held talks with Finance Minister Nirmala Sitharaman and the RBI to address regulatory issues concerning its payments bank.

The RBI had ordered Paytm Payments Bank to stop accepting new deposits by March 31 due to supervisory concerns.

The stock, although up, remains lower than its pre-RBI order level.

The company is seeking an extension and clarity on the transfer of its license. Investors are finding confidence in the ongoing discussions with regulators, but compliance issues still loom.

VoM News Desk

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