"There must be something pretty serious for them to take an action like this but at the same time, since official data is not available on why they have taken that action, it is difficult to look at proportionality of whether it is fair enough, whether what they have done is in line with the opex that is need to be till the violation is there ."
Paytm stock has been under pressure since the RBI announced restrictions on Paytm Payments Bank’s operations amid persistent non-compliances and continued material supervisory concerns.
Following three days of non-stop selling in lower circuits which led to 42% crash in the stock, Paytm shares ended 3% higher yesterday. At this stage, Paytm shares are solely guided by investor sentiment around the regulatory trouble and Indian fintech poster boy s capability to tackle it.
Paytm parent company One97 Communication s share price rose 10 percent, rising for 2nd straight session, amid reports that the firm s founder Vijay Shekhar Sharma met FM Nirmala Sitharaman to discuss the RBI s restrictions.