Paytm to discontinue inter-company agreements with its Payments Bank

01/03/2024

One97 Communications, the parent company of Paytm, has discontinued various inter-company agreements with its payments bank unit, the company said on Friday. This comes ahead of the March 15 deadline set by the Reserve Bank of India (RBI) to end the operations of the Paytm Payments Bank.

“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, the Board of Directors of the Company on March 01, 2024, at 07:28 A.M. (IST), through circulation, have approved the discontinuation of various inter-company agreements with its associate entity, Paytm Payments Bank Limited (PPBL),” the company said in a statement.Â

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