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The Reserve Bank of India has formally cancelled the license of Paytm Payments Bank Ltd, sending One97 Communications shares down 8% in early trade. The cancellation ends any possibility of the payments bank resuming operations, adding regulatory risk to Paytm's ongoing business restructuring.
Paytm shares fell 8% after the RBI cancelled Paytm Payments Bank's licence, then recovered as Jefferies, Goldman Sachs, and Bernstein held their buy ratings. All three brokerages said the financial impact is limited because Paytm's core business is structurally separate from PPBL.
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The Reserve Bank of India has formally cancelled the license of Paytm Payments Bank Ltd, sending One97 Communications shares down 8% in early trade. The cancellation ends any possibility of the payments bank resuming operations, adding regulatory risk to Paytm's ongoing business restructuring.
1mo ago · 2 min · Markets
Paytm shares fell 8% after the RBI cancelled Paytm Payments Bank's licence, then recovered as Jefferies, Goldman Sachs, and Bernstein held their buy ratings. All three brokerages said the financial impact is limited because Paytm's core business is structurally separate from PPBL.
1mo ago · 2 min · Markets
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