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- By Aditya Pratap Singh
- Mon, 19 Feb 2024 10:58 AM (IST)
- Source:JND
Paytm Shares: Shares of Paytm rose 5 per cent for the second consecutive session on February 19 after the company settled its merchant payments with Axis Bank. The stock was trading at Rs 358.35 on the NSE at 10:37 am.
One97 Communications has transferred its nodal account through an escrow account opened with Axis Bank. Paytm QR, Soundbox and Card Machines will continue to operate for all its business partners, the company said in a statement.
Account holders and merchants of Paytm Payments Bank have been informed that they are allowed to move their assets to alternative banks till March 15 after the Reserve Bank of India (RBI) extended the deadline to suspend operations.
Also read: Paytm Shifts Nodal Account To Axis Bank For Seamless Merchant Payment Settlements
RBI has also released a list of Frequently Asked Questions (FAQs) for all Paytm Payments Bank customers. It includes information on the remaining balance, UPI charges and the FASTag service of Paytm.
In the last session, shares of Paytm closed at Rs 341.30 with an upper circuit of 5 per cent on the National Stock Exchange (NSE).
Earlier, the shares tanked 65 per cent following the central bank's action on Paytm Payment Bank. The RBI' had asked PPBL to stop receiving deposits, and top-ups, in the Paytm Payment Bank Account, wallet after February 29, cutting continuous non-compliance with norms. Paytm shares have fallen by 55 per cent in the last month.
However, the central bank further extended the deadline to March 15 considering the convenience to the customers.
