New Delhi: Shares of One97 Communications Limitedowning to Paytm BrandReached the lower circuit limit for the second consecutive day on Thursday. paytm share Falling 5% or 20.30 from its previous close to 385.90.
Paytm shares fell 5% in late morning trade on Wednesday and hit the lower circuit limit. The share fell to Rs 406.15 on BSE.
Vijay Shekhar Sharma has recently resigned from the post of part-time non-executive chairman of Paytm Payments Bank LimitedAccording to the filing given on Monday, the board of the bank has been reconstituted and the process of appointing a new chairman will begin. This turn of events is significant in view of the RBI crackdown on Paytm Payments Bank due to non-compliance and supervisory concerns.
Last month, the RBI took regulatory action and barred PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29. The deadline was later extended to March 15.
One97 Communications Limited (OCL) owns the Paytm brand. OCL holds 49% of the paid-up share capital of PPBL (directly and through its subsidiary), while Vijay Shekhar Sharma holds 51% stake in the bank.
Paytm shares fell 5% in late morning trade on Wednesday and hit the lower circuit limit. The share fell to Rs 406.15 on BSE.
Vijay Shekhar Sharma has recently resigned from the post of part-time non-executive chairman of Paytm Payments Bank LimitedAccording to the filing given on Monday, the board of the bank has been reconstituted and the process of appointing a new chairman will begin. This turn of events is significant in view of the RBI crackdown on Paytm Payments Bank due to non-compliance and supervisory concerns.
Last month, the RBI took regulatory action and barred PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29. The deadline was later extended to March 15.
One97 Communications Limited (OCL) owns the Paytm brand. OCL holds 49% of the paid-up share capital of PPBL (directly and through its subsidiary), while Vijay Shekhar Sharma holds 51% stake in the bank.
