Paytm shares fall 13% after RBI bans new customers to Paytm Payments Bank

RBI Bans Paytm Payments Bank From Taking On New Customers

Today the share price of Paytm’s parent company one97 communication Limited touched an all-time low on NSE at Rs 664 per share.

The stock price of the company went down by 13%.

Apart from this, RBI has also asked the company to get an IT audit done.

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.

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.

Morgan Stanley, which is an international investment company, has given a target of ₹ 1875 for Paytm (one 97 communication).

Paytm is India’s most valuable payment brand, it is not just a company, it is a complete digital ecosystem for consumers and merchants.

According to March 2021, Paytm has 333 million+ (more than 33 crores) clients.

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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