RBI has banned Paytm Payments Bank. Since then, the company has been strugglingshare price In the last few days, the shares of Paytm’s parent company i.e. One97 Communication Ltd.52 week low of Rs 325.05. Market cap decreased by Tk 20,645 crore.
Although Paytm is trying to make everything look normal. The organization has assured all possible cooperation to the Reserve Bank. Apart from this, news has also surfaced that even after the ban on Pemenes Bank, Paytm is still hiring. Meanwhile, the central government opened its mouth about Paytm. It is directly informed that the law must be obeyed.
Union Minister of State for Information Technology Rajeev Chandrasekhar said, ‘The country’s feudal companies must obey the law. There is no matter of will or reluctance. The RBI’s crackdown on Paytm is seen by many as a message to other fintech companies as well.
On the other hand, shares of PETS fell by 20 percent on February 1 immediately after the Reserve Bank’s decision. The company’s share price fell from Tk 761 to Tk 608 80 in a day. Since then, Paytm’s shares have sometimes risen, sometimes fallen. At one point the price went down to Rs 316.05.
