Paytm’s share price surged by 5% as the RBI instructed NPCI to review their request to become a third-party app provider for UPI payments.
This move could allow Paytm to continue processing payments via UPI, but would require support from a group of selected banks.
The RBI has also restricted Paytm Payments Bank from accepting new credits after March 15, 2024, to minimize risk in the UPI system. Paytm’s share price has seen a significant decline recently, dropping by nearly 44% in the last month and over 52% in three months.
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