Paytm is back in action! After nearly nine months on pause, the fintech giant has finally received the go-ahead to onboard new UPI users.
This comes as some much-needed relief for Paytm, especially after the Reserve Bank of India's restrictions earlier this year on
Paytm Payments Bank Limited or PPBL that blocked the onboarding of new UPI users.
Now, with this approval by NPCI, could it be the boost Paytm needs to reclaim its lost UPI market share?
Well, the market seems to think so — Paytm’s shares surged by over 10% to 756 rupees apiece on 23rd October on the back of
this development.
After PPBL faced major setbacks due to those tough restrictions from the banking regulator back in January.
Paytm's share of the UPI market fell from 13%to around 7% by September.
Also Watch: Zomato Orders Just Got More Expensive, Here's Why