Monday, March 04, 2024
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In the morning trade, the 30-share BSE Sensex benchmark slumped 288.71 points or 0.39 per cent, while NSE Nifty fell 71.55 points to 22,141.15.

Former chairman of SEBI M Damodaran, head of advisory committee set up by One97 Communications said they have been engaging with the group on matters relating to the Advisory Committee's terms of reference.

Since Friday, the Paytm stock has experienced a rebound, surging by over 21 per cent from Thursday's closing price of Rs 325.

The agency looked into over 50 lakh accounts and wallets but didn't find any breaches of foreign exchange rules.

Rajeev Chandrasekhar said that the RBI order has drawn the attention of fintech players to the fact that the regulatory compliance is not an optional thing.

This direction came after the Indian Highways Management Company Ltd (IHMCL) barred Paytm Payments Bank from issuing fresh FASTags.

As of now, no irregularities have been detected and a case under FEMA will only be registered once any contravention under the said law is found.

Paytm said that the company and its associates have continued to provide information, documents, and explanations to the authorities as required by them.

The downgrade follows the recent regulatory action taken on Paytm Payments Bank by the Reserve Bank of India.

RBI Governor Shaktikanta Das said that RBI will soon issue a set of Frequently Asked Questions (FAO) targeting inconveniences and difficulties being faced by customers and depositors.