Paytm shares jump after reports of CEO meeting RBI, Nirmala Sitharaman

Bengaluru: Shares of Paytm climbed as much as 10 per cent on Wednesday after media reported that the embattled digital payments firm’s CEO had met Finance Minister Nirmala Sitharaman and central bank to try to resolve a regulatory crackdown on its payments bank business.

Paytm shares climbed as high as 496.25 rupees but remained far below their level before January 31, when the Reserve Bank of India (RBI) ordered Paytm Payments Bank to stop accepting new deposits in its accounts and its popular digital wallets from March, citing supervisory concerns and non-compliance with rules.