 "Paytm")
The recent Reserve Bank of India (RBI) diktat gives Paytm Payments Bank (PPBL) time till February 29 to wind down its operations. This will have a substantial impact on One97 Communications (OCL), which is the listed Paytm entity. The stock has taken a hammering with two successive lower circuits.
The fintech firm said it will compensate by expanding existing relationships with third-party banks to distribute payments, financial services and products.
The Paytm app and its services will remain operational. There will be no impact on user deposits in savings.
The RBI directives won't affect Paytm Money (PML) operations
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