India TV

Paytm shares hit upper circuit after receiving RBI's in-principle approval to revive wallet business

Shares of Paytm surged to hit a 5 per cent upper circuit in the late trading session after Paytm Payments Services Limited (PPSL), a wholly owned subsidiary of One 97 Communications Limited, received an in-principle to set up and operate a payment system for the issuance and operation of Prepaid Payment Instruments (PPIs) in India, subject to adherence to the RBI Master Directions on Prepaid Payment Instruments dated August 27, 2021, as updated from time to time.