Paytm gets RBI prelim nod to operate wallets; shares surge to 52-week high
Paytm's payment segment has secured initial approval from the Reserve Bank of India for its prepaid payment instruments. This milestone has propelled One 97 Communications' stock to soar past the Rs 1,900 mark, reflecting strong market performance. Analysts predict robust revenue growth stemming from the enhanced merchant discount rate framework for UPI transactions, with global brokerage Bernstein naming Paytm as a leading growth prospect in finance.
