The Reserve Bank of India(RBI) has asked Paytm Payments Services Limited to resubmit the application to operate as a payment aggregator

The banking regulator RBI paused the onboarding of online merchants by Paytm Payments Services

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Paytm said: “RBI has not rejected our application but has simply asked us to reapply in 120 days and we are taking all the necessary steps”

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RBI has given in-principle approval to Razorpay, Pine Labs, Cashfree, and CCAvenues, while BillDesk and PayU are still awaiting a response

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RBI's PAs guidelines said a single entity cannot continue to provide an e-commerce marketplace along with payment aggregator services

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The company has 100 million KYC customers, and, according to the Paytm Payments Bank website, it is gaining 0.4 million new users each month

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The share price of Paytm in the name of One97 gained 5.87% in NSE on 25 November and closed at Rs 467

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On 24 Nov, Geojit BNP Paribas has given a buy rating for One 97 Communications (Paytm) for a target of Rs 574

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On 9 Nov ICICI Securities has given a buy for One97 Communication (Paytm) for the target of Rs 1285

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