RBI had Wednesday put curbs on Paytm Payments Bank, a banking partner of Paytm, which included prohibitions on onboarding new customers and operating its mobile wallet services.
Following Sharma's stake purchase from Antfin Holding, Paytm CEO Vijay Shekhar Sharma will now hold the largest stake in the digital payments firm, with a 19.42% ownership.
One97 Communications, the parent of the digital payments giant, ended last week 17% below its offer price of Rs 2,150, after falling to as low as Rs 1,271 at one point.
Sharma encouraged employees to look past the initial stumble and to focus on the long-term opportunities for bringing digital payments to India's fast-growing internet population.
Paytm founder Vijay Shekhar Sharma is raising capital to protect his digital payments company from new entrants like Facebook, Google and Walmart's PhonePe.
The Government of India recognises Ladakh as one of the most important living centres of Buddhist culture in the world. We are committed to safeguarding its unique cultural traditions.
Post-2022 as AI has spread in developed economies, it is leading to another round of polarisation—the middle class jobs are being lost in offices rather than in factories.
The fifth S-400 air defence system is undergoing various stages of production trials, and will be delivered by November-December this year, it is learnt.
American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.
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