Paytm shares continue to fall, slipping 4.99% in early trade

Paytm share price: shares of Paytm parent One97 Communications continue to dip on Thursday, February 29, after hitting lower circuit on Wednesday. shares of Paytm tanked 4.99 per cent to touch an intray low of Rs 385.90 apiece on National Stock Exchange during early tre.

Vijay Shekhar Sharma, fintech giant's founder, recently resigned as part-time n-executive chairman of Paytm Payments Bank Limited. bank's board has been reconstituted, and process of appointing a new chairman will begin, according to a filing earlier this week. This move comes amid Reserve Bank of India's (RBI) crackdown on Paytm Payments Bank due to n-compliance and supervisory concerns. 

Last month, RBI took regulatory action and prohibited PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, FASTags, and or instruments after February 29. deline was later extended to March 15.