Mumbai: One 97 Communications Ltd, which operates digital payments platform Paytm, on Friday clarified that incentives received under the Reserve Bank of India’s Payment Infrastructure Development Fund (PIDF) scheme amounted to ₹128 crore for the six months ended September 30, 2025, addressing market concerns that weighed on the stock this week.
In a regulatory filing to stock exchanges, the company said the incentive was recognised in line with RBI guidelines for qualifying expenditure incurred on deploying payment acceptance devices such as soundboxes and EDC machines, primarily across Tier-3 to Tier-6 locations, northeastern states, and regions including Jammu, Kashmir and Ladakh.
The PIDF scheme, which was valid until December 31, 2025, does not currently have any announced extension or replacement by the central bank. Responding to investor concerns over potential earnings impact, Paytm said that if the scheme is not extended, it expects to “significantly offset the impact over time through a combination of higher revenues and more targeted sales efforts”.
The clarification follows a report highlighting a sharp intraday decline in Paytm shares, which fell nearly 10% from the day’s high, extending losses for the week amid concerns around the sustainability of incentive-led income streams.
Paytm added that it will continue to make disclosures in line with regulatory requirements as and when necessary. The filing was issued in response to surveillance queries from both NSE and BSE seeking clarification on the news report and its financial implications