Paytm crisis: The group of founders urged RBI to reassess the “proportionality of restrictions” on Paytm considering the potential impact on the payments bank, the fintech ecosystem and the broader economy.
Jio Financial shares ended 14% higher on BSE on Monday following a media report stating that Jio has been in talks to buy the Paytm wallet business since November. Citing sources, the report had said as part of a larger bailout plan, Jio may offer to acquire Paytm Payments Bank.
Vijay Shekhar Sharma, one of the most recognised faces of India's fintech industry, is facing a big crisis in a race to save his revolutionary digital payments firm - Paytm.