One 97 Communications, the parent company of Paytm has recently announced it has received approval from the Government of India for downstream investment from the company into Paytm Payment Services. With this approval in place, PPSL will resubmit its PA application.
In the exchange filing on August 28, the company shared, “PPSL has received approval from the Government of India, Ministry of Finance, Department of Financial Services, vide its letter dated August 27, 2024, for downstream investment from the Company into PPSL. With this approval in place, PPSL will proceed to resubmit its PA application. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners.”
In the meantime, One 97 Communications Ltd shares (Paytm’s parent), were down 0.73% at Rs 541.15 on the BSE today (August 28).
