Potential for Continued Rally in Paytm Shares on Monday, Yet Significant Upside Appears Limited

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Paytm Share Price Gains 5% as One97 Communications Shifts Nodal Account to Axis Bank


Today, Paytm's share price saw another 5% increase as its parent company, One97 Communications, transitioned its nodal account to Axis Bank via an escrow account. The stock continued its recovery, hitting the upper circuit for the second consecutive session. This positive movement follows the news of the crisis-hit company partnering with Axis Bank for merchant payment settlements. As of 11:56 am, the stock was trading at ₹358.35 on the NSE, marking a notable rebound from the previous session's ₹341.30, where it also surged 5%.

Amidst recent turbulence, Paytm's shares have faced significant volatility, witnessing a 55% decline over the past month. However, the decision to shift its nodal account to Axis Bank signals a strategic move by the company to stabilize operations and reassure investors.

Paytm Share Price: Axis Bank Partnership


One97 Communications' decision to transfer its nodal account to Axis Bank underscores a proactive effort to address concerns and maintain continuity for its merchant partners. The partnership with Axis Bank is expected to streamline payment processes and enhance trust among stakeholders.

Paytm Share Price: RBI Deadline Extension


In response to the ongoing developments, the Reserve Bank of India (RBI) extended the deadline for halting operations and facilitating asset transfers for Paytm Payments Bank account holders until March 15. Additionally, the RBI issued a set of frequently asked questions (FAQs) to clarify various aspects for Paytm Payments Bank account holders, including queries related to remaining balances, UPI payments, and FASTags.




The RBI's directive prohibits further deposits or credit transactions in customer accounts, prepaid instruments, wallets, FASTags, National Common Mobility Cards, etc., after March 15, 2024. However, exceptions include interest, cashbacks, sweep-ins from partner banks, or refunds, which may be credited at any time.

Disclaimer: The information provided above is sourced from publicly available news sources and is intended for general informational purposes only. It is not to be construed as professional financial advice. Readers are advised to conduct their own research and consult with a qualified financial advisor before making any investment decisions.





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