Paytm Share Update On Monday, an important news came regarding Paytm Payments Bank. It was reported that Vijay Shekhar Sharma resigned from the post of Non-Executive Chairman of Paytm Payments Bank Limited. Now Bank PPBL will start the appointment of a new Chairman. Let us tell you that even after this important update, Paytm’s shares have seen a rise today.
Paytm Update: Paytm shares have seen a rise in Tuesday’s trading session. Even today the company’s shares are trading up by 5 percent. Today there is a fresh upper circuit in the company’s stock.
Today the stock rose 4.98 percent to Rs 449.30 on BSE. This is its upper circuit limit. Today there was a highly volatile trend in the shares of fintech firms. It fell to the day’s low of Rs 413.55. Later the company’s stock made a comeback and rose by 1.18 percent to Rs 433.
Despite a weak start, the company’s shares on NSE reached the highest trading permissible limit of Rs 449.50 for the day, up 4.99 per cent.
Let us tell you that the shares of One97 Communications had touched the upper circuit limit on Monday and Friday also.
Vijay Shekhar Sharma left the post of president
Vijay Shekhar Sharma on Monday stepped down as part-time non-executive chairman of Paytm Payments Bank Ltd. After this the board of the bank has been reconstituted. PPBL will soon begin the process of appointing a new chairman, it said in a filing on Monday.
RBI had taken action against Paytm Payments Bank due to non-compliance. In a regulatory action last month, the central bank had barred PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, Fastag and other instruments after February 29. Its deadline was extended to 15 March 2024.
One97 Communications said in a press release on Monday that its subsidiary Paytm Payments Bank Ltd (PPBL) has appointed former Central Bank of India Chairman Srinivasan Sridhar,
retired IAS officer Debendranath Sarangi, Bank of Baroda Ashok Kumar Garg, and former IAS officer Rajni has reconstituted its Board of Directors with the appointment of Sekhari Sibal, former Executive Director.
One97 Communications Limited (OCL) owns the Paytm brand. One97 Communications holds 49 percent of PPBL. Vijay Shekhar Sharma has 51 percent stake in the bank.
