PayTM faces the heat again.

Mar 14, 2022 10:26 am

Central bank barred Paytm’s payments bank from onboarding new customers on March 11 and asked the company to undertake an IT audit.

This can lead to more regulation from the core governing body RBI. Morgan Stanley downgraded Paytm to ‘equal-weight’ from ‘overweight’. Macquarie Securities India, has an ‘underperform’ call on the stock and cuts its price target to Rs 700.

PayTM already has a huge customer base and may not be very broadly impacted with such a sanction but if more compliance and measures peeps in then it may definitely get pushed to the wall.

One97 communication the parent company today has already witnessed a 12% dip on its share price.