Brief by Shorts91 Newsdesk / 04:59am on 15 Mar 2024,Friday Business
Paytm's stock soared by 5% following NPCI's approval for its parent company, One97 Communications Limited, to operate as a Third-Party Application Provider (TPAP) for UPI services. NPCI directed YES Bank to facilitate UPI transactions for Paytm, ensuring seamless service continuity. Despite recent setbacks due to RBI restrictions, Paytm's approval garnered optimism from analysts like Morgan Stanley, foreseeing a potential 57% upside. The move signals a positive trajectory for Paytm, potentially marking a recovery from its recent slump, as it navigates regulatory challenges and seeks to diversify its banking partnerships.
