RBI Bans Paytm Payments Bank From Taking On New Customers
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Today the share price of Paytm’s parent company one97 communication Limited touched an all-time low on NSE at Rs 664 per share.
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The stock price of the company went down by 13%.
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Apart from this, RBI has also asked the company to get an IT audit done.
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The share price of Paytm was going in a bearish trend ever since the listing, so the market has reacted very negatively with the arrival of this news.
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The stock price of Paytm has gone down 22% in the last one month and the share price of the company is almost 70% down even from its IPO issue price.
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Morgan Stanley, which is an international investment company, has given a target of ₹ 1875 for Paytm (one 97 communication).
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Paytm is India’s most valuable payment brand, it is not just a company, it is a complete digital ecosystem for consumers and merchants.
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According to March 2021, Paytm has 333 million+ (more than 33 crores) clients.
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There are over 21 million registered merchants, 65 million+ Paytm payment bank accounts, total deposits of 58 billion, and total investments in 69 billion wealth products.
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