"Regulatory Crisis: Paytm's Shares Plummet Amid License Uncertainty"
TL;DR
India's central bank, RBI, has ordered Paytm Payments Bank to stop accepting fresh deposits in its accounts or popular wallets from March, raising uncertainty about the future of its digital wallet business. The bank's digital wallet business may not be able to operate after Feb. 29 unless the RBI approves a transfer of its license to parent group One 97 Communications. Paytm faces a potential crisis as its shares plunged 20% for a second straight day, wiping about $2 billion off its market value, and analysts have downgraded the stock following the RBI order.
Topics:businessbusiness-finance#banking#business-finance#digital-payments#license-uncertainty#paytm#rbi
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