Paytm Share Price Plunges 13 Percent as RBI Bars Its Payment Bank From Acquiring New Customers
One97 Communications parent company of Paytm stock has hit a new low as the company saw a fall of 13 per cent in the opening hours of Monday
The share price of One97 Communications the parent company of Paytm plunged 13 per cent after the price of the share fell and hit a new low during the opening hours of Monday morning. The reason behind this big fall is predicted to be the Reserve Bank of India's (RBI) which bars the fintech company from onboarding any new customer in Paytm Payments Bank (PPBL) with immediate effect over certain security concerns.
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Shares of Paytm dropped as much as 13% after the Reserve Bank of India barred the digital payments company’s Paytm Payments Bank venture from accepting new customers https://t.co/6AUphkseNB
— Bloomberg (@business) March 14, 2022
(The above story first appeared on LatestLY on Mar 14, 2022 10:28 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
