RBI's Blow to Paytm, Shares Fall 20% in a Day

RBI imposes significant business restrictions on Paytm, restricting new deposits, credit transactions, and onboarding new customers.

Source: Moneycontrol

Regulatory Scrutiny Deepens

RBI cites persistent non-compliance and supervisory concerns. Comprehensive System Audit prompts major restrictions on Paytm.

Source: Moneycontrol

Transactional Freeze After Feb 29

No fresh deposits, credit transactions, or top-ups after February 29, 2024. Withdrawals and utilization of balances allowed without restrictions.

Source: Moneycontrol

Cease of Banking Services

Post Feb 29, 2024, Paytm Payments Bank restricted from providing banking services like fund transfers, BBPOU, and UPI facilities.

Source: Moneycontrol

Brokerages Downgrade Paytm

Shares plunge 20% on RBI's lending business restrictions. Several analysts downgraded their rating.

Source: Moneycontrol

Paytm's Response and Impact

Paytm pauses lending operations, engaging with lenders. Estimates worst-case impact on EBITDA at Rs 300-500 Cr. Concerns rise over EPS impact.

Source: Moneycontrol