A customer pays cash to buy vegetables next to a QR code of Paytm, a digital payments firm, on display at a roadside market in Ahmedabad, India, February 5, 2024.REUTERS/Amit Dave
BENGALURU (Reuters) - Shares of Paytm climbed as much as 10% on Wednesday after media reported that the embattled digital payments firm's CEO had met India's finance minister and central bank to try to resolve a regulatory crackdown on its payments bank business.
Paytm shares climbed as high as 496.25 rupees but remained far below their level before Jan. 31, when the Reserve Bank of India (RBI) ordered Paytm Payments Bank to stop accepting new deposits in its accounts and its popular digital wallets from March, citing supervisory concerns and non-compliance with rules.
