Paytm shares in focus as RBI grants final approval for payment aggregator licence

Shares of One97 Communications Ltd., the parent of Paytm, will be in focus on Thursday, November 27, after its wholly owned subsidiary Paytm Payments Services Limited received the Reserve Bank of India's final approval to operate as a payment aggregator.

The clearance comes a little over three months after the RBI granted its in-principle approval on August 12.

The Certificate of Authorization allows PPSL to onboard merchants and enable online transactions for them.

The company said growth from this business will be reflected in its consolidated financials.

The approval also comes at a time when Paytm is sharpening its focus on expanding its payments business.

In an exchange filing, Paytm said the RBI granted the Certificate of Authorization to PPSL on November 26 under the Payment and Settlement Systems Act, 2007.

Shares of Paytm settled 3.75% higher on Wednesday at ₹1,288. Despite this move, the stock is still over 40% below its IPO price of ₹2,150.