Paytm shares plunged continuously after the RBI action a few days ago. On Monday 12th Feb 2024, Axis Bank CEO Amitabh Chaudhry said that Axis Bank can work with Paytm if the Reserve Bank of India (RBI) allows it. The news came into the headlines just a few hours ago. Here we have unveiled all the details related to this news. Currently, the share price is moving at ₹416 level.
Currently, Paytm Payments Bank is facing a crucial time after the strict action from RBI especially after banning deposits from customers. Now Paytm needs to partner with any bank to continue its payment bank business. Amid this situation, Axis Bank has shown an interest in working with Paytm if RBI allows them to proceed with Paytm. On Monday, Axis Bank CEO Amitabh Chaudhry stated that Paytm is an important player in the market and there are so many transactions coming from Paytm UPI.
“Subject to regulatory approval and if the regulator allows us to work with Paytm, of course we will work with them, they are an important player,” he stated.
Arjun Chowdhry revealed that the bank has been in conversation with Paytm about this partnership. This talk between Axis Bank and Paytm has been in process since January 31, 2024.
Currently, it is unclear who will be the final name in the partnership with Paytm in the upcoming days because previously HDFC also appeared in the news. Some news claimed that HDFC wants to buy Paytm Payments Bank. However, the news vanished from the headlines after a few days. Stay tuned to know all the details and know which bank will get approval from RBI to work with Paytm in the future.