Paytm gets preliminary RBI nod for wallet licence
In short
Paytm got a preliminary nod from the RBI for a wallet licence, and its shares jumped to a record high. The approval came more than two years after the RBI stopped Paytm Payments Bank from taking fresh deposits and wallet top-ups.
This could help Paytm restart wallet-related business if it gets the needed regulatory clearances.
What the reporting says
Paytm received preliminary RBI approval for a wallet licence, and its shares hit a record high. The approval comes more than two years after the RBI barred Paytm Payments Bank from accepting fresh deposits and wallet top-ups. The move points to a possible reopening of wallet-related business for the company, pending further regulatory steps.
Why it matters
Paytm received preliminary RBI approval for a wallet licence, with its shares reaching a record high after the update. The brief indicates a regulatory step forward for Paytm, though further approval appears to still be needed.