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Paytm Shares Surge 2% Following Sale of Entertainment Ticketing Division to Zomato
On the BSE, the scrip traded 2.09% up at Rs 585.05 per share. On the NSE, the stock was trading at Rs 584.50 per share, up by 1.82%. It touched a high of Rs 604.70 during the day, up by over 5%, on the NSE; on BSE, it touched Rs 604.45.
SEBI Chairperson Vows to Prevent Paytm-Style Issues in Stock Markets
According to Buch, all of the problems that surfaced in Paytm were within its own framework; these problems had not contaminated the banks. But she had warned that if Paytm was allowed into the market without bringing it under KRA oversight, there could be a risk of contamination.
Zomato Explores Acquisition of Paytm's Movies and Events Business
Zomato updated bourse on the developments to say the discussions would further strengthen its "Going out" business segment, which is its strategy going forward only to its four core business verticals as of now.
'Totally False': Adani Group refutes reports of acquiring stake in Paytm
“We categorically deny this baseless speculation. It is totally false and untrue,” a spokesperson for the Adani Group stated.
Paytm and PPBL Terminate Inter-Company Agreements Ahead of RBI Deadline
In a filing with the Bombay Stock Exchange (BSE), the company stated that Paytm and PPBL have decided to terminate various inter-company agreements with Paytm and its group entities as part of an effort to reduce dependencies. Additionally, the shareholders of PPBL have agreed to simplify the Shareholders Agreement (SHA) to enhance PPBL’s governance independently of its shareholders.
Vijay Shekhar Sharma Resigns as Chairman of PPBL; Bank's Board Undergoes Reconstitution
Last month, in response to regulatory actions, the central bank imposed restrictions on PPBL, prohibiting the acceptance of fresh deposits or top-ups in various customer accounts, including wallets and FASTags, effective initially until February 29, with an extension later granted until March 15.
Paytm's QR, Soundbox, and Card Machine to Remain Operational Post March 15; Nodal Accounts Transitioned to Axis Bank
This assurance comes hot on the heels of the Reserve Bank of India (RBI) releasing a set of Frequently Asked Questions (FAQs) confirming that Paytm's merchant payment devices will not be affected and will continue to function normally.
RBI Asks Paytm Payments Bank Customers to Shift Accounts to Other Banks by March 15
Customers of PPBL are encouraged to transfer their account balances, including savings, current accounts, prepaid instruments, FASTags, and National Common Mobility Cards, to alternative banks before March 15. The RBI emphasizes that withdrawals and utilization of balances from PPBL accounts will continue to be permitted without restrictions beyond this date.
Enforcement Directorate Questions Paytm Executives, Receives Documentation Regarding Recent RBI Measures
The central agency is currently in the preliminary stages of examining these documents as part of a potential formal investigation under the Foreign Exchange Management Act (FEMA), prompted by alleged irregularities flagged by the RBI.
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