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 after the regulator cancelled the banking licence of Paytm Payments Bank. Shares of One97 Communications hit a record high of ₹1,958.8 intraday on Friday following the approval.