The Reserve Bank of India (RBI) in March had barred Paytm Payments Bank from onboarding new customers, citing “material supervisory concerns” observed at the bank.
Earlier this month, Macquarie reduced the target price of stocks of One97 Communications Limited, Paytm's parent company by 36 per cent from Rs 700 to Rs 450.
Macquarie has cut the target price by 36 per cent for Paytm parent company One97 Communication, which is already facing heat from RBI restrictions and investors’ wrath.
This move enables the company to create a long-term sustainable business in partnership with ONDC
The remarks come amid a steep decline in Paytm's shares, which are now trading 75 per cent lower than the price at which investors bought them at the initial public offering
Annual inspections by the Reserve Bank of India found that the company’s servers were sharing information with China-based entities that indirectly own a stake in Paytm Payments Bank
Paytm reiterated its intention to make inroads in the general insurance sector, as it is extremely bullish about its potential
Vijay Shekhar Sharma was allegedly driving a Jaguar Land Rover that hit the car of DCP (South district)
The bank has also been directed to appoint an IT audit firm to conduct a comprehensive System Audit of its IT system, the RBI said in a release