Paytm’s parent company, One97 Communications Limited, saw a massive 10% jump in its share price following approval from the National Payments Corporation of India (NPCI) to onboard new users for its UPI services. This approval comes after restrictions imposed earlier this year by the Reserve Bank of India (RBI) on Paytm’s UPI operations.
The approval, granted in a letter dated October 22, 2024, comes with specific conditions, requiring Paytm to adhere to procedural guidelines, risk management protocols, and data protection regulations. This positive development is expected to significantly boost Paytm’s UPI user base, contributing to its overall market performance.
As of 11:21 am, Paytm shares were trading 8.35% higher at ₹743.75 on the NSE.
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