Amid RBI s action on its associate firm, One 97 Communications on Friday said the board has approved the discontinuation of inter-company pacts with Paytm Payments Bank to reduce dependencies.
The move assumes significance as Paytm Payments Bank Limited (PPBL) is under the RBI's lens over persistent non-compliance and continued material supervisory concerns.
India Business News: Find answers to frequently asked questions about whether Paytm customers can use their Paytm wallets after March 15. Learn about the impact on Paytm wallet users and what services will still be available.
According to Ajay Srivastava, CEO of Dimensions Corporate, debt returns this year could be as good as index returns if the government reduces borrowing and the fiscal deficit, leading to a potential decrease in interest rates. Investors should embrace and invest in emerging tech companies and hotel stocks. He thinks people should keep buying and keep investing.
It held a 17.5% stake in Paytm in September 2022 later it trimmed its ownership through multiple open market deals. After this sale, the company s stake in Paytm’s parent One97 Communications went down to 2.83 percent from 5.01 per cent earlier.