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Paytm shares rose after PPBL got relief from RBI, there was a jump of 5%
Paytm Share Price: Paytm Payments Bank Limited was instructed by the Reserve Bank of India (RBI) on January 31 to stop accepting deposits and top-ups in any customer account, prepaid device, wallet, or Fastag after February 29, 2024. Since the order, the company's shares have drastically decreased in value. The deadline has now been moved up to March 15.
The Paytm brand's owner, One97 Communications Limited, saw a 5% increase in share price on Monday. The RBI's Friday directive to Paytm Payments Bank Limited to extend its operations through March 15 is what has caused the company's shares to strengthen.
The company's shares increased 5% to Rs 358.55 on the BSE and Rs 358.35 on the NSE. Paytm Payments Bank Limited was instructed by the Reserve Bank of India (RBI) on January 31 to stop accepting deposits and top-ups in any customer account, prepaid device, wallet, or Fastag after February 29, 2024. Since the order, the company's shares have drastically decreased in value.
But later on, this order was extended through March 15. One97 Communications Limited (OCL) is associated with Paytm Payments Bank Limited (PPBL).
One97 Communications holds a 49 per cent stake (directly and through its subsidiary) in Paytm Payments Bank Limited. One97 Communications Limited (OCL) Chief Executive Officer (CEO) Vijay Shekhar Sharma holds a 51 per cent stake in the bank.
