Today One 97 Communications (Paytm) stock hit a 5% upper circuit at ₹370.70.
The price surge is a result of the company receiving approval from the National Payments Corporation of India (NPCI) to provide UPI services as a Third-Party Application Provider (TPAP).
For this, Paytm will partner with 4 Indian banks including Yes Bank, HDFC Bank, Axis Bank, and SBI.
Paytm’s move comes in as per the RBI’s suggestion to the company to become a TPAP for continuing its UPI operations as per regulatory requirements.
Paytm stock opened today up by Rs. 17.65 from its previous close of 353.05 on Thursday.
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