Paytm Faces RBI Restrictions, Users Face Transaction Restrictions After Feb 29

Paytm, India's ubiquitous payments platform, is hit with significant restrictions as the Reserve Bank of India takes action. The central bank restricts Paytm Payments Bank from onboarding new customers and limits existing ones in various transactions, citing persistent operational issues. The move sparks a near 36% stock market collapse for Paytm, prompting the fintech giant to assure compliance with RBI's demands.