India’s Paytm mentioned late on Tuesday it obtained approval from the nation’s funds authority to onboard new unified fee interface (UPI) customers, offering some reduction for the monetary companies agency after a central bank-ordered ban on its banking unit.
The Nationwide Funds Company of India (NPCI) granted its approval following a request by the corporate in August, Paytm mentioned.
The nation’s monetary regulator wound down Paytm’s banking unit in January as a result of persistent compliance points, sparking worries about its key digital funds enterprise and triggering a meltdown in its inventory worth.
Paytm shares have misplaced round 10 % because the central financial institution clampdown on January 31.
Earlier within the day, shares of the corporate shed greater than 5 % after it reported a 34 % decline in income and a 25 % drop in month-to-month transacting customers for September quarter.
© Thomson Reuters 2024
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)
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