From Dealroom · · 40s
Paytm Shares Hit Record High
Paytm shares surge to record high after RBI approves digital wallet revival.
In brief
Paytm shares surge to record high after RBI approves digital wallet revival. Paytm shares reached 1,960 rupees after RBI granted in-principle approval to restart digital wallet business. Originally reported by Dealroom.
RBI Approval
Paytm Payments Services Limited received in-principle approval from the Reserve Bank of India to restart digital wallet business after regulatory action halted it nearly three years ago.
Share Price Surge
Paytm shares rose to a record high of 1,960 rupees on Friday following the RBI approval.
Preliminary Approval
The approval is only preliminary and requires systems and cybersecurity audit within six months before final authorization for wallet issuance.
The headline
Paytm shares reached 1,960 rupees after RBI granted in-principle approval to restart digital wallet business.
