Paytm gets preliminary RBI nod for wallet licence, shares hit record high

Paytm Payments Services, a subsidiary of One97 Communications, has received in-principle approval from the RBI to issue prepaid payment products, including digital wallets. The approval came months after the regulator cancelled the banking licence of Paytm Payments Bank. Following the approval, shares of One97 Communications hit a record high of ₹1,958.8 before closing at ₹1,945 on Friday.