Paytm Shares Surge After RBI Grants Payment Aggregator License
A QR code for the Paytm digital payment system at a roadside vegetables stall in Mumbai, India.
Photographer: Dhiraj Singh/BloombergShares of One 97 Communications Ltd. surged to the highest level in over three years after its unit received approval from India’s central bank to operate as an online payment aggregator.
The stock surged as much as 6% in early trading on Wednesday to the highest since January 2022, as the regulatory nod cleared a major overhang for the financial technology firm.