Paytm shares jump on RBI wallet nod
Paytm shares reached a record high after its services unit received preliminary central bank approval to issue digital wallets. The development allows the subsidiary to move toward restarting key wallet services following earlier regulatory restrictions.
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ONE 97 COMMUNICATIONS LTD shares surged to a record high of 1,960 rupees on Friday morning after receiving preliminary approval from India's central bank for a digital wallet license. The regulatory nod allows the fintech firm's payments services unit to resume prepaid payment instrument operations following previous compliance setbacks. Investors welcomed the milestone as a key catalyst for the company's core business recovery in its primary market.
