Paytm Payments Bank and RBI ban: What went wrong and the story so far

The shares of Paytm have plunged 43 per cent since January 31. Its shares are trading near an all-time low of Rs 438.35 apiece. The sell-off started after the Reserve Bank of India (RBI) barred Paytm Payments Bank Ltd (PPBL) from accepting more deposits from February 29, owing to “persistent non-compliances”.

On Tuesday morning, the shares of Paytm were trading over 4 per cent in the green at Rs 456.15 apiece.

The order meant that PPBL would not be able to undertake any banking activity, including accepting deposits, credit transactions, wallet top-ups (not even form FASTags) and bill payments.