Paytm shares: Senior Paytm executives appeared for questioning before ED in connection with alleged irregularities but no serious issues came to light, a media report suggested.
Shares of One 97 Communications fell 5% after ED questioned Paytm Payments Bank officials over alleged FEMA violations. Paytm has lost 57% in value since RBI banned the payments bank. Macquarie sees stock slumping to Rs 275, says Suresh Ganapathy.
Paytm's counter has been under tremendous pressure since the Reserve Bank announced restrictions on Paytm Payments' operations amid persistent non-compliances and continued material supervisory concerns.
On January 31, the RBI placed restrictions on Paytm Payments Bank, saying the actions were warranted by “persistent non-compliances and continued material supervisory concerns in the bank”