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Indian central bank’s clampdown wipes $2.1 billion off Paytm
Shares of Paytm fell another 20% Friday before hitting the lower circuit that temporarily halts trading as the Indian financial services firm reels from
Shares of Paytm fell another 20% Friday before hitting the lower circuit that temporarily halts trading as the Indian financial services firm reels from the clampdown by the central bank. Even as Paytm insists that the RBI’s direction will, at worst, erase $60 million from its annual EBITDA, the market at large is reading the situation differently. With respect to loan distribution, management expects moderation in disbursements over the next few weeks, and said it is in the process of reaching out to partners to explain the current circumstances to them.
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