Paytm Shares Jump 6% After NPCI Approves Onboarding of New UPI Users Post 8-Month RBI Ban

Oct 23, 2024, 01:25 AM

Paytm, owned by One97 Communications Limited, has received approval from the National Payments Corporation of India (NPCI) to onboard new users onto its Unified Payments Interface (UPI) platform. This approval comes after eight months of restrictions imposed by the Reserve Bank of India (RBI) on many of its operations. The NPCI nod allows Paytm to resume adding new UPI users, subject to three conditions. Following the announcement, Paytm's shares jumped nearly 6%.