NEW DELHI: Shares of One97 Communications declined nearly 2% to 419 on Wednesday from previous close of 427 on Tuesday.
Paytm ended in red on Tuesday, despite rising 5% on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in the morning session.
The shares settled at 427.50 apiece on BSE, down 0.11%, while on NSE, they closed at 426.95, down 0.27%.
Earlier, in the morning session, the stock climbed 4.98% to 449.30 on BSE and 4.99% to 449.50 on NSE, hitting their upper circuit limits.
This surge followed Vijay Shekhar Sharma’s resignation as part-time non-executive chairman of Paytm Payments Bank Limited (PPBL) and as a board member.
Sharma’s decision comes after the RBI asked PPBL to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, by March 15, citing non-compliance with certain norms.
According to the RBI, India’s banking regulator has suggested the National Payments Corporation of India (NPCI) to consider Paytm’s proposal to become a platform for peer-to-peer payments.
The move indicates a possible softening of the RBI’s position.
“NPCI has been advised by the RBI to examine the request of One97 Communication Ltd (OCL) to become a Third-Party Application Provider (TPAP) for UPI channel for continued UPI operation of the Paytm app, as per the norms,” it said.
On January 31, the RBI asked PPBL (Paytm Payments Bank Ltd) to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29. Later, the central bank extended the deadline till March 15.
Paytm on February 9 announced setting up of a group advisory committee headed by Damodaran. The committee was set up to advise the company on strengthening compliance and on regulatory matters.
Paytm ended in red on Tuesday, despite rising 5% on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in the morning session.
The shares settled at 427.50 apiece on BSE, down 0.11%, while on NSE, they closed at 426.95, down 0.27%.
Earlier, in the morning session, the stock climbed 4.98% to 449.30 on BSE and 4.99% to 449.50 on NSE, hitting their upper circuit limits.
This surge followed Vijay Shekhar Sharma’s resignation as part-time non-executive chairman of Paytm Payments Bank Limited (PPBL) and as a board member.
Sharma’s decision comes after the RBI asked PPBL to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, by March 15, citing non-compliance with certain norms.
According to the RBI, India’s banking regulator has suggested the National Payments Corporation of India (NPCI) to consider Paytm’s proposal to become a platform for peer-to-peer payments.
The move indicates a possible softening of the RBI’s position.
“NPCI has been advised by the RBI to examine the request of One97 Communication Ltd (OCL) to become a Third-Party Application Provider (TPAP) for UPI channel for continued UPI operation of the Paytm app, as per the norms,” it said.
On January 31, the RBI asked PPBL (Paytm Payments Bank Ltd) to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29. Later, the central bank extended the deadline till March 15.
Paytm on February 9 announced setting up of a group advisory committee headed by Damodaran. The committee was set up to advise the company on strengthening compliance and on regulatory matters.