Paytm Tanks 8% After RBI Revokes Payments Bank Licence

by · Inc42

SUMMARY

  • Shares of Paytm fell 8.37% intraday to a low of ₹1,051.05 after the RBI cancelled the licence of Paytm Payments Bank
  • The stock later recovered and was trading 3.78% lower at ₹1,103.75 at 10:44 IST, with a market capitalisation of ₹70,552.8 Cr (about $7.4 Bn)
  • Brokerages remained largely positive, saying the impact would be limited as the payments bank business had already been ring-fenced and written off earlier