Paytm's Milestone Achievement

In a significant development, Paytm Payments Services has received the Reserve Bank of India's (RBI) 'in-principle' approval to operate as an online payment aggregator. This marks a pivotal moment for the company, ending the onboarding freeze that was imposed since November 2022.

Compliance and Conditions

The approval comes with stringent conditions, including compliance with the Guidelines on Regulation of Payment Aggregators and Payment Gateways. Paytm is required to undergo a comprehensive System Audit, focusing on cybersecurity, to maintain its authorisation.

Market Reaction

Following the announcement, shares of One 97 Communications, Paytm's parent company, surged by 4.8%, hitting a 52-week high of Rs 1,173.70 on the BSE, reflecting positive market sentiment towards this development.