Paytm Relief: Paytm has got a long relief after months and finally it has got permission to add new users. Its parent company One97 Communications Limited, which runs the Paytm brand, has received approval from the National Payments Corporation of India that it can add new UPI users on its platform. Keep in mind that about 9 months ago, the Reserve Bank of India had imposed a ban on Paytm from adding new UPI users and due to which the company suffered a big blow.
Letter written to Paytm CEO Vijay Shekhar Sharma
National Payments Corporation of India i.e. NPCI has written a letter to the company’s founder and chief executive officer Vijay Shekhar Sharma. In this letter, NPCI Chief Dilip Asbe has written that the company is being allowed to add new customers. This permission will be subject to certain conditions and is being given subject to compliance with the official guidelines of NPCI and agreements of payment service providers. National Payments Corporation of India has issued this permission after reviewing the performance of Paytm for months.
NPCI gave permission to the company with all mandatory conditions.
Paytm said in an exchange filing late on Tuesday that the National Payments Corporation of India (NPCI) has approved the company to onboard new UPI users with all NPCI terms and conditions. This letter was issued to the company on October 22, 2024.
There was a huge fall in shares after RBI ban
Months ago, when due to this news, there was a huge fall in the shares of Paytm, since then these speculations started being made and there were reports that this blow is very big for Paytm and the company will not be able to recover from it, although the shares of Noida based company Paytm. Despite the ups and downs, it stood firm and now after getting permission to add new UPI users, there is a possibility of its stock regaining momentum from today.
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