Paytm share prices surged 5 percent to hit at Rs 358.55
Reserve Bank of India has extended the deadline to March 15, from the initial date of February 29...
![Paytm share prices surged 5 percent to hit at Rs 358.55](https://www.psuconnect.in/sdsdsd/Paytm_share_prices_surged_5_percent_to_hit_at_Rs_358.jpg)
New Delhi: Paytm shares get uplifted by 5% to hit the upper circuit of Rs 358.55 in opening deals on Monday, after its parent its parent firm One97 Communications announced that Paytm has shifted its nodal account to Axis Bank.
Reserve Bank of India has extended the deadline to March 15, from the initial date of February 29. Subsequently, a modification in the nodal account setup will enable merchants to maintain their acceptance of digital payments through the Paytm QR code or card machine. This would ultimately aim to mitigate concerns regarding potential suspensions of merchant payments.
Furthermore, the RBI announced an extension of the deadline for Paytm Payments Bank until March 15, earlier which was February 29.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYThis would facilitate temporary customers making them continue, to use, withdraw, and transfer funds from their accounts. The company noted that consumer payments for merchant transactions are typically collected in a dedicated account.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsThis, on the other hand, eases Paytm for a seamless transition to its merchants’ settlements to Axis Bank, thereby facilitating business operations for the merchants.
Read Also : India assumes the Chair of Asian Disaster Preparedness CentreNews Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh