INSUBCONTINENT EXCLUSIVE:
Paytm parent One 97 Communications had slumped 12.84 per cent on Monday.Mumbai (Maharashtra): The share price of Paytm's parent company One
trading at Rs 603.15, which is 10.62 per cent down from its previous day's close at Rs 675.53.This is the lowest ever price of One 97
Communications Ltd share.The scrip has tumbled by over 20 per cent in the last two days after the Reserve Bank of India (RBI) barred Paytm
Payments Bank from onboarding new customers.One 97 Communications Ltd share had slumped 12.84 per cent on Monday.The company's market
capitalisation slipped below Rs 40,000 crore for the first time
On the day of its stock market debut on November 18, 2021, the market capitalisation of One 97 Communications Ltd stood at Rs 1.01 lakh
The company has lost over Rs 60,000 crore in market capitalisation in less than four months.The Reserve Bank of India (RBI) last week
imposed restrictions on Paytm Payments Bank and asked it to appoint an IT audit firm to conduct a comprehensive system audit of its IT
system.In its reply to the RBI's action, One 97 Communications Ltd said, "The bank (Paytm Payments Bank) is taking immediate steps to comply
with RBI directions, including appointment of a reputed external auditor to conduct a comprehensive System Audit of its IT systems
PPBL remains committed to working with the regulator to address their concerns as quickly as possible."
