Paytm crisis: Earlier, a group of founders wrote to RBI Governor Shaktikanta Das and finance minister Nirmala Sitharaman, urging them to reconsider and review the regulatory action against Paytm Payments Bank.
Sources said that the margin funding book for the Paytm stock stood at close to Rs 250-300 crore before the carnage started. What caused precipitous selling was the call by some brokers for additional margins, not just for Paytm stock they were holding but also other outstanding positions
New Delhi: Paytm is facing a serious crisis, these days. Recently, the Reserve Bank of India (RBI) temporarily halted Paytm Payments Bank's digital banking services due to issues related to regulatory compliance and customer data security. This means Paytm users can't make transactions from their accounts for now.