RBI Governor’s big statement on Paytm ban
Many things have come to light in the Paytm case. Some things are quoted from sources. Some things are being said on the basis of speculations. It is also being said that Paytm may get relief in some time. Now the biggest question is how much truth is there in these things. Will RBI be able to reverse its strict action? Will the country’s Central Bank give some relief to Paytm? On Monday, the RBI Governor answered all these questions with his harsh and strict stance. Also such things were said which made it clear that Paytm has no relief left. Let us also tell you what the RBI Governor said?
No scope for review
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Monday that there is hardly any scope for reviewing the action taken against Paytm Payments Bank (PPBL). Speaking to reporters in the national capital on Monday, Das said that there is hardly any scope for review of the action taken against Paytm Payments Bank. He also said that RBI takes action against regulated entities only after comprehensive assessment.
Bank will issue FAQ soon
Das emphasized that the regulator supports the financial technology (fintech) sector, and is committed to ensuring financial stability while protecting the interests of customers. It is expected that the central bank will soon issue FAQs (Frequently Asked Questions) on the Paytm issue. Taking a major action against Paytm Payments Bank, RBI had stopped it from accepting deposits or top-up in any customer account, wallet, Fastag and other instruments after February 29.
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Paytm shares status
However, on Monday, there was a slight rise in the shares of Paytm’s parent company One97 Communication. After the market closed, the company’s shares closed at Rs 422.60 with a rise of Rs 2.75. However, this morning the company’s shares opened at Rs 428.75. During the trading session, the company’s shares also reached the day’s high of Rs 436. On October 20, 2023, the company’s shares reached a record level of Rs 998.30. Since then, the company’s shares have fallen 58 percent from the record high.