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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.
The RBI has formally cancelled Paytm Payments Bank's licence, concluding an enforcement process that began in 2022. The Paytm app and its payment services operate under a separate licence and remain unaffected, while depositors and wallet holders will be repaid.
The RBI has cancelled Paytm Payments Bank's banking licence, triggering its shutdown. Paytm says it does not expect a material business impact due to its prior separation from the payments bank. Bernstein retained a positive view on the stock but flagged concerns about the regulatory tone from the RBI.
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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
The RBI has formally cancelled Paytm Payments Bank's licence, concluding an enforcement process that began in 2022. The Paytm app and its payment services operate under a separate licence and remain unaffected, while depositors and wallet holders will be repaid.
1mo ago · 2 min · Business
The RBI has cancelled Paytm Payments Bank's banking licence, triggering its shutdown. Paytm says it does not expect a material business impact due to its prior separation from the payments bank. Bernstein retained a positive view on the stock but flagged concerns about the regulatory tone from the RBI.
2mo ago · 1 min · Markets
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