New Delhi: shares Of One97 CommunicationsOwnership PaytmKill upper circuit on Monday as Enhanced Up 5% in morning trade. The stock hit Rs 358.55 and Rs 358.35 on BSE and NSE, respectively.
Paytm’s recent deal with Axis Bank for merchant payment settlement and RBI extending the deadline for closure of operations of Paytm Payments Bank till March 15 were the reasons for this rise.
Recently, One97 Communications has transferred its nodal account from Paytm Payments Bank to Axis Bank. To ensure continuity of Paytm’s services, such as Paytm QR, Soundbox and Card Machine.
RBI had directed Paytm Payments Bank Ltd (PPBL) customers and merchants to transfer their accounts to other banks by March 15, allowing PPBL to shut down most of its operations.
Shares of Paytm fell after the RBI asked Paytm to suspend its payments bank operations after it failed to comply with the rules despite repeated warnings.
Following the RBI order on January 31, PPBL stopped deposits, credit transactions and top-ups in customer accounts, prepaid devices, wallets, Fastag and National Common Mobility cards after February 29.
Paytm’s recent deal with Axis Bank for merchant payment settlement and RBI extending the deadline for closure of operations of Paytm Payments Bank till March 15 were the reasons for this rise.
Recently, One97 Communications has transferred its nodal account from Paytm Payments Bank to Axis Bank. To ensure continuity of Paytm’s services, such as Paytm QR, Soundbox and Card Machine.
RBI had directed Paytm Payments Bank Ltd (PPBL) customers and merchants to transfer their accounts to other banks by March 15, allowing PPBL to shut down most of its operations.
Shares of Paytm fell after the RBI asked Paytm to suspend its payments bank operations after it failed to comply with the rules despite repeated warnings.
Following the RBI order on January 31, PPBL stopped deposits, credit transactions and top-ups in customer accounts, prepaid devices, wallets, Fastag and National Common Mobility cards after February 29.
