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However, that is still below Paytm's current price of about 727 rupees. And despite the near 6% jump on the day, the stock is still down about 4.5% since the RBI clampdown on Jan. 31.
Paytm moved quickly to cut ties with the payments bank; Sharma resigned as chair of the bank’s board last week. Paytm is now trying to build relationships with third-party banks, like Axis Bank.
In our chart of the week, we look at the 10-year Treasury yield, a go-to indication of long-term interest rates. ... But also positive, as rising rates reflect economic growth.
In 2015, Paytm Payments Bank Limited received in-principle approval from the Reserve Bank of India to set up a payments bank and was formally inaugurated on November 28, 2017. [ 6 ] [ 16 ] In the financial year 2020, the bank facilitated more than 485 crore transactions worth ₹4.6 lakh crore. [ 17 ]
On the technical analysis chart, a wedge pattern is a market trend commonly found in traded assets (stocks, bonds, futures, etc.).The pattern is characterized by a contracting range in prices coupled with an upward trend in prices (known as a rising wedge) or a downward trend in prices (known as a falling wedge).
Paytm (an acronym for "pay through mobile") is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. [4] Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications.
Paytm, one of India's first startups to go public, said its consolidated revenue rose 38% to 28.51 billion rupees, with the payments business contributing 61% to the total.
The Q4'16–17 rate was 6.1% as against a forecast of 7.1% by economists. [151] The rate for the financial year 2016–17 was 7.1%, a reduction from the 8% in 2015–16. [152] This drop was attributed to demonetisation by economists. [153] The GDP growth rate for Q1'17–18 dropped to 5.7%, compared to 7.9% a year prior, [154] the lowest since ...