RBI is mulling to cancel Paytm Payments Bank License after 15 March according to this media Report

Paytm Stock: After the regulatory action, a rise of 10 percent has been seen in the shares of Paytm, a company which is in trouble today. Today, the price of Rs 496.75 was seen in the shares of Paytm’s parent company One 97 Communications Limited, within a short time of opening of business in the morning market. Paytm shares have touched a high level of 496.75 today with a gain of Rs 45.15 per share. This share is trading at Rs 491.30 at 10.30 am.

RBI considering canceling the license of Paytm Payments Bank – Moneycontrol

According to the report of Moneycontrol.com, the Reserve Bank of India is also considering canceling the license of Paytm Payments Bank which is currently in crisis. RBI has given a deadline of March 15, 2024 to Paytm Payments Bank to close the business and settle the transactions, after which this action can be taken. Moneycontrol has received this news quoting sources that this is the intention of RBI at this time. If this news is completely true, then there are signs of increasing troubles for Paytm, which is stuck in financial problems. The source also says that the country’s central bank may take a decision regarding this step in the coming few days.

Paytm Payments Bank has received Time till 15th March

RBI has asked Paytm Payment Bank to settle all the transactions and nodal accounts in the pipeline by March 15 and has directed that no transaction should be done after this date. According to sources, the Reserve Bank is also considering the option of removing the board of Paytm Payments Bank.

News of Paytm CEO meeting Finance Minister

Paytm promoter Vijay Shekhar Sharma reportedly met Finance Minister Nirmala Sitharaman on 6 February. This news has not been confirmed. Earlier, top officials of Paytm had also discussed with RBI officials.

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