Paytm Share Price Today: RBI order on payments bank sinks Paytm 12.8%
Shares in One97 Communications (Paytm) are under selling pressure after RBI has ordered Paytm Payments Bank Ltd (PPBL) to stop acquiring new customers with immediate effect and conduct a comprehensive audit of IT. So, on Monday the BSE fell 12.84% to 675.35 rupees. Quoted the system, “Significant Regulatory Concerns”.
“This action is based on certain major regulatory concerns observed at banks,” the Reserve Bank of India (RBI) said last Friday.
Meanwhile, PPBL said it is taking immediate steps to move the RBI. “PPBL is committed to continuing to work with regulators to address regulatory concerns as quickly as possible. Existing PPBL customers will benefit from uninterrupted seamless banking and digital payment services. “You can continue to enjoy it,” he said. “The PPBL account savings for existing users, fixed deposits at partner banks, PaytmWallet account balances, FASTag or wallet cards and UPI services are completely secure and functioning.”
PPBL further states: “Source-based media coverage that claims data was shared with Chinese companies is completely false, inaccurate, and unverified. Banks are fully compliant with RBI guidance on data localization. , All user data is in India. “