Paytm share price: Paytm shares gained 5 per cent hitting the upper circuit for the second straight session today. This comes as the crisis-hit company partnered with Axis Bank for the settlement of merchant payments. At 9:16 am, the stock was trading at ₹358.35 on the NSE. In the previous session, Paytm shares ended at 5% upper circuit at ₹341.30 on the NSE. In one month, the stock has tanked 55 per cent.
Paytm share price: Axis Bank decision
Paytm’s parent company- One97 Communications- shifted its nodal account to Axis Bank through an escrow account. The company said that it will continue to operate for all its merchant partners as well.
Paytm share price: RBI deadline
The Reserve Bank of India (RBI) extended the deadline to halt operations and for Paytm Payments Bank account holders to move their assets till March 15. Additionally, it also issued a list of frequently asked questions (FAQs) for all Paytm Payments Bank account holders which include clarifications regarding remaining balance, UPI payments and FASTags.
The RBI said in its order, “No further deposits or credit transactions or top ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, National Common Mobility Cards, etc. after March 15, 2024 (extended from the earlier stipulated timeline of February 29, 2024), other than any interest, cashbacks, sweep in from partner banks or refunds which may be credited anytime.”
Stay informed on Business Newsalong withGold Rates Today, India News and other related updates on Hindustan Times Website and APPs