Paytm’s circuit band revised to 10% from 20% earlier
Shares of Paytm crashed 20% on both Thursday and Friday after the Reserve Bank of India imposed ‘severe’ restrictions on the company’s banking unit.
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Shares of Paytm crashed 20% on both Thursday and Friday after the Reserve Bank of India imposed ‘severe’ restrictions on the company’s banking unit.
Paytm has said that this decision by the RBI will impact their EBITDA annually by Rs 300-500 crore.
The number of merchants subscribing to Paytm's payment devices reached 1.06 crore as of December 2023, reflecting a year-on-year increase of 49 lakh.
The company’s net loss has shrunk to Rs 290 crore, a substantial decrease from Rs 357 crore in the previous quarter and Rs 571 crore in the same quarter last year.
The Reserve Bank of India (RBI) has fined Paytm Payments Bank Limited ₹5.39 Crore.
The facility was inaugurated on Thursday in the presence of Managing Director of DMRC, Dr. Vikas Kumar and Chief Business Officer of Paytm, Abhay Sharma.
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