Paytm reduces the daily trading limit by 10% after the crisis in the Indian markets
The daily share trading limitations for the digital payments startup Paytm (PAYT.NS) have been lowered from 20% to 10% by India's stock exchanges. The fall follows a regulatory assault on the company's banking business and a $2 billion stock market disaster.
India's stock exchanges have reduced Paytm's (PAYT.NS) daily share trading limit from 20% to 10% in response to a $2 billion stock decline brought on by a regulatory crackdown on the company's banking division.
The daily share trading limit for Paytm (PAYT.NS), a digital payments startup, has been reduced by India's stock exchanges from 20% to 10% after a regulatory crackdown on the company's banking division, which sent the shares plunging $2 billion. a new tab was opened.
On their websites, the National Stock Exchange and the Bombay Stock Exchange announced that the new 10% cap would take effect on Monday.
The banking division of Paytm was instructed by the Indian central bank earlier this week to cease taking new deposits into its accounts or well-known wallets as of March. This decision will have a significant impact on how the nation's most widely used digital payments app, Paytm, functions since it is dependent on the bank.
After losing $2 billion on the Mumbai stock market, the market value of Paytm (PAYT.NS) dropped to $3.7 billion this week. On Thursday and Friday, the stock slid 20%, which was its daily maximum at the time. To the two.
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