11 Lakh Retail Investors’ Money Stuck Amid Paytm Crisis, 514 Foreigners Also Faint Impact On The Stock Market Also
Summary: Amid the crisis, the money of 11 lakh retailers and 514 foreign investors is stuck. Amidst uncertainty looming over investment, Paytm’s shares also registered a decline. The capital linked to it is also stuck in 97 schemes of mutual funds.
Expansion: After RBI’s strictness on Paytm Payments Bank, The shares have fallen 42 percent in three trading sessions. However, on Tuesday, the company’s shares saw a rise of up to five percent. Despite this growth, the company and its investors are in trouble. To correct irregularities in the functioning of Paytm Payments Bank, it continuous ignoring of RBI warnings the money of 11 lakh retail and 514 foreign investors is stuck in shares. Apart from this, investors’ hard-earned money is also stuck in 97 mutual fund schemes.
BNP Paribas Arbitrage and Canada Pension also Invested
Top foreign institutional investors BNP Paribas Arbitrage and Canada Pension Plan have a one percent stake in it. The six mutual fund schemes have investments of more than Rs 100 crore each. Each of the 40 schemes has an investment of less than Rs 10 crore.
ED Asked For a Report From The RBI
Enforcement Directorate and Financial Intelligence Unit (FIU) Has sought a report from RBI regarding the strictness imposed on Paytm Payments Bank. Whether rules have been violated or not. agencies of Paytm Apart from this, other payment gateway companies are also being investigated in which Chinese-controlled companies have a stake.
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Paytm’s Market Capitalization Increased by Rs 853 Crore
Paytm shares closed higher on Tuesday after falling in the last three trading sessions. After rising as much as 7.79 percent in intraday trading on BSE, the company’s shares finally Closed at Rs 451.60 with a gain of 3.02 percent.
CEO Met RBI officials: CEO Vijay Shekhar Sharma has met RBI officials. Sources said that the company has demanded to extension of the deadline of February 29 of the ban.
