Shares of fintech company Paytm, operated by One 97 Communications, will be in focus in today's trading session as the Reserve Bank of India (RBI) has cancelled the banking licence issued to Paytm Payments Bank (PPBL) for non-compliance with norms. The central bank said that the bank's affairs were conducted in a manner detrimental to the interests of its depositors. "The bank failed to comply with the conditions stipulated in the Payments Bank licence issued to it," the central bank said. The RBI will make an application for the winding up of the bank before the High Court.
Will it impact Paytm?
One97 Communications has stated that the company has no exposure to Paytm Payments Bank (PPBL). In an exchange filing, the company said that it had already impaired its investment in the beleaguered entity as of March 31, 2024.
PPBL, which was an associate firm of Vijay Shekhar Sharma-promoted fintech firm Paytm, came under the regulatory scanner on multiple occasions earlier, including in March 2022, when the central bank barred it from onboarding new customers.
Paytm services to continue uninterrupted
Paytm said its services will continue uninterrupted. The services include the Paytm app, Paytm UPI, Paytm Gold and all other services offered by its subsidiaries and associated companies, such as Paytm QR, Paytm Soundbox, Paytm card machines, Paytm Payment Gateway, Paytm Money, among others.
Paytm share price
In the last trading session, the stock closed at Rs 1,147.20, down Rs 12.75 or 1.10 per cent from the previous close of Rs 1,159.85. The market cap of the company stood at Rs 73,426.98 crore. During the day, the stock touched an intraday high and low of Rs 1,170 and 1,142.65, respectively.
The stock has a 52-week high of 1,381.75, hit on December 2, 2025 and a 52-week low of Rs 803.10.
Meanwhile, global brokerage firm Bernstein has reaffirmed its confidence in Paytm, stating the RBI's move will have no impact on Paytm's business.
ALSO READ | Amrti Bharat Trains: Uttar Pradesh to get two new trains, check routes and other details
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
