RBI imposes restrictions on Paytm Payments Bank, leading to downgrades by brokerages like Jefferies. Jefferies cuts target price to Rs 500 per share, citing reputational risks. Macquarie highlights serious implications of RBI ban on Paytm’s ability to retain customers and sell payment and loan products. Paytm clarifies that user deposits are not impacted, but wallet and merchant payments business will be affected. Founder Jefferies cuts Ebitda estimates by 45% and expects delayed profitability.
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