FILE PHOTO: Paytm app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
BENGALURU (Reuters) - The Reserve Bank of India (RBI) has ordered the payments bank subsidiary of Paytm to stop accepting fresh deposits in its accounts or popular wallets from March, in a major blow to one of the country's largest payments firms.
Paytm shares plunged the daily limit of 20% on Thursday after the central bank's move, which could be a precursor to its licence being cancelled, said a person familiar with the matter.
