Paytm Payments Bank’s independent director Manju Agarwal resignsMoneycontrol • 3 months ago
Manju Agarwal had been serving on the PPBL board since May 2021.
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Sources said that the margin funding book for the Paytm stock stood at close to Rs 250-300 crore before the carnage started. What caused precipitous selling was the call by some brokers for additional margins, not just for Paytm stock they were holding but also other outstanding positions
The RBI has imposed crippling restrictions on Paytm Payments Bank, including a bar on accepting fresh deposits and credit transactions after February 29
News reports also said the Reserve Bank of India may consider cancelling Paytm’s banking licence, as early as next month, once the depositors money is safe.
The shares, apparently, have been bought on behalf of some other entities who do not hold a FPI license in India as the entry in bulk deal data was marked as ODI.
Macquarie does not see any near-term solution to Paytm's problems as it believes the lapses found out to by RBI to be material
RBI barred the Payments Bank from taking deposits in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024, effectively putting an end to the banking activities.
RBI on January 31 imposed major business restrictions on Paytm Payments Bank including accepting fresh deposits and doing credit transactions after February 29.
BNP Paribas Arbitrage sold 42.15 lakh shares in Paytm at Rs 753.75 per share
Motilal Oswal is bullish on One 97 Communications recommended buy rating on the stock with a target price of Rs 975 in its research report dated January 21, 2024.