Kopar Khairane
Buisness

Paytm’s share price increased by 5% after a three-day decline in the circuit

<p>On February 6, Paytm’s stock saw a 5% increase, partly rebounding from three sessions in which it was locked in a downward circuit due to RBI limitations on its payments bank activities.</p>
<p><img decoding=”async” class=”alignnone wp-image-388010″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytms-share-price-increased-by-5-after-a-three-day-decline-in-the-circuit-paytm-s.jpg” alt=”theindiaprint.com paytms share price increased by 5 after a three day decline in the circuit paytm s” width=”1078″ height=”606″ title=”Paytm's share price increased by 5% after a three-day decline in the circuit 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytms-share-price-increased-by-5-after-a-three-day-decline-in-the-circuit-paytm-s.jpg 690w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytms-share-price-increased-by-5-after-a-three-day-decline-in-the-circuit-paytm-s-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytms-share-price-increased-by-5-after-a-three-day-decline-in-the-circuit-paytm-s-150×84.jpg 150w” sizes=”(max-width: 1078px) 100vw, 1078px” /></p>
<p>RBI has ordered Paytm Payments Bank to stop accepting new credit cards and deposits as of February 29.</p>
<p>Paytm was trading at Rs 466 as of 9:40 am. One97 Communications, the parent company of Paytm, saw its shares close 10% down the day before.</p>
<p>The shares have dropped significantly—41 percent—during the previous four trading days, from Rs 761.4.</p>
<p>Following the release of a recommendation by the well-known merchants’ association Confederation of All India merchants (CAIT) encouraging companies to look into alternate payment methods, the situation became more heated.</p>
<p>Concerning the possible financial interruptions for a significant number of women, small merchants, vendors, and hawkers who depend on Paytm for their transactions, CAIT raised worry.</p>
<p>The RBI’s limits were accepted by CAIT, which prompted them to recommend that consumers take preventative steps to secure their money and guarantee ongoing financial activities.</p>
<p>Vijay Shekhar Sharma, the founder and CEO of Paytm, informed the staff that there aren’t any immediate plans for layoffs. In order to resolve the issue, he said that the corporation is in active negotiations with the Reserve Bank of India.</p>
<p>“We don’t know everything—for example, precisely what went wrong. However, we will shortly work things out. Highlighting the continuing attempts to address the current problems, Sharma told Paytm staff, “We will get in touch with the RBI to see what can be done.</p>

Related posts

To expedite the train project, Indian Railways has partnered with an Indo-Russian JV; see all the details here

This little bank is providing FDs with over 9% interest

2024 Yamaha MT-09 Gets New Design With Technological Upgrades: Information Here