Ever since the RBI ban was issued on January 31st evening, Paytm shares have so far tumbled 46%. Barring the two days of relief rally, which might have left many buy-the-dip investors trapped, the stock has been on a downhill trajectory with investor loss mounting up to Rs 22,000 crore.
RBI MPC meeting live updates: India’s central bank left its benchmark interest rate unchanged for a sixth straight meeting Thursday and retained its hawkish policy stance, signaling rates will stay higher for longer.
Five of the six members of the Monetary Policy Committee voted to keep the benchmark repurchase rate at 6.5%. The panel also decided to retain its policy stance at “withdrawal of accommodation.”
The stock price of One97 Communications, the parent company of Paytm, dropped significantly in today s trading session after recovering slightly from heavy losses in the past two trading days.
At a presser on the MPC policy review, the RBI said the clampdown on Paytm Payments Bank was a result of persistent non-compliance of the regulator's norms. RBI Deputy Governor Swaminathan J said that they were monitoring Paytm Payments Bank and "will take suitable steps as warranted going forward".
The RBI has received a lot of queries in connection with the action on Paytm Payments Bank and will release FAQs, RBI governor Shaktikanta Das has said