Crisis-hit Paytm in talks with top India officials after $2.5 billion market cap wipeout
Publishing timestamp: 2024-02-07 23:26:59
Summary
Paytm CEO Vijay Shekhar Sharma met with the finance minister of India to discuss regulatory issues with the Reserve Bank of India (RBI). Paytm's banking unit has been ordered to stop accepting fresh deposits and is being investigated for possible violations of foreign exchange laws. The outcome of the meeting is uncertain, and Paytm's shares have experienced a significant decline in value.
Sentiment: NEGATIVE
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