Paytm (One 97 communication limited) distances itself from Paytm Payments Bank Limited
As per latest press release OCL, will completely move its services to other bank and will only bank with other bank.
Cutting ties with their own subsidiary is something which is unheard of.
I am sure paytm payments bank will be back after some cool off period and some fines. I guess this is all done to manage their stocks 📉
https://www.bseindia.com/xml-data/corpfiling/AttachLive/02a4a3a1-8cc0-4cde-a35f-d4f70ca98377.pdf
One interview, 1000+ job opportunities
Take a 10-min AI interview to qualify for numerous real jobs auto-matched to your profile 🔑More context - Paytm Payments Bank is owned by One97 Communications(49%), the listed entity, and its founder Vijay Shekhar Sharma (51%) and plays a huge role in the growth of the company and its prospects. PPB houses all the key products offered by Paytm including wallets, UPI and deposit accounts. All of Paytm's 330 million plus wallet accounts as well as 150 million plus UPI handles are housed in PPB.
Source: Twitter
wallet is gone now, only upi would be there
Stock has touched lower circuit, fallen by 20% today