Paytm shares have misplaced round 10% for the reason that central financial institution clampdown on Jan. 31.
New Delhi:
The Paytm stated late on Tuesday it acquired approval from the nation’s funds authority to onboard new unified cost interface (UPI) customers, offering some aid for the monetary companies agency after a central bank-ordered ban on its banking unit.
The Nationwide Funds Company of India (NPCI) granted its approval following a request by the corporate in August, Paytm stated.
The nation’s monetary regulator wound down Paytm’s banking unit in January attributable to persistent compliance points, sparking worries about its key digital funds enterprise and triggering a meltdown in its inventory worth.
Paytm shares have misplaced round 10% for the reason that central financial institution clampdown on Jan. 31.
Earlier within the day, shares of the corporate shed greater than 5% after it reported a 34% decline in income and a 25% drop in month-to-month transacting customers for September quarter.
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