The fintech company said that it has received a letter from the Reserve Bank of India in response to an application from its subsidiary for the authorization to provide payment aggregator services for online merchants.
Among the broad-based indices, BSE SmallCap dropped 74 points to 62,197.70 with ITDC, Religare, Finolex Industries amongst the gainers on the index.
BSE MidCap lost 130 points to 62,142.17, with Bank of India, IOB, Max Health and GSPL amongst the active stocks on the index while BSE LargeCap
Paytm Payments Bank being an issuer and payment service provider bank in itself along with being an acquirer of UPI transactions on its own platform, makes it the source and destination for all of its transactions. So, it effectively serves the customer end-to-end in a transaction.
In what has become a huge catalyst towards promoting as many transactions that can take place through digital means, the Digital India campaign has empowered the common citizen with the widespread use of technology on that front.
Recently, other top brokerage firms such as JP Morgan, Morgan Stanley, Goldman Sachs, Dolat Analysis and Research Themes, and CITI extended their confidence in Paytm's strong performance with 'Buy' ratings.
The company has seen a stronger monetisation across all its key businesses while limiting indirect costs, leading to a 61 per cent YoY improvement in operating profits or Ebitda before employee stock ownership plan (ESOP) costs to Rs 166 crore.
Fintech solutions provider One 97 Communications, which operates the popular payment platform Paytm continues to dominate the payments landscape in India.
On a quarterly basis, Paytm's net losses have reduced by 11 per cent. The company said robust traction across all its businesses helped it achieve stronger revenue growth, with improvement in Ebitda before Esop cost (improvement of Rs201 crore in last two quarters).
India's mobile payments pioneer debuted in the stock market in 2021, which was then the largest initial public offering (IPO) in the country. Over the last one year, the most talked-about stock among the new-age tech stocks had been Paytm.
Kolkata (West Bengal) [India], October 26 (ANI/PNN): The past decade has shown us through the growth and expansion of innumerable technology companies across major Indian cities. However, very few of them have taken strides in planning employee welfare. For most big names in the industry, ex