the main part of paytm.aytm is separate than the payments bank business. let however the financial impact will be quite significant. paytm today said that rbi action worst-case impact will be three to 5 billion rupees on annual ebitda. jeffrey's analysts have cut their price target for paytm shares to 500 rupees after the rbi announcement. more than 50% cut. equity analysts have said this will significantly hamper their ability to retain customers in its ecosystem. the medium to long-term impact could be very significant. yeah, sorry? haslinda: to your point, what is the wider implication for other payments funds and what does it mean for its customers? >> on the face of it it doesn't seem that others in the system will be affected because this is an action on one individual or company that has gone two years to fix its payment system, etc., but after that rbi was not satisfied. of course, other companies are a little concerned, because paytm competitors may not be happy about the situation. because rbi has

paytm has beenin supervisory concerns. paytm has been in regulatory cross hairs.re have been multiple warnings sent by the regulator to look into the dealings between the banking division as well as the popular payments app well as the popular payments app paytm. latest reports say theissues app paytm. latest reports say the issues include multiple transaction beyond regulatory limits, improper customer verification and even raising money laundering consent and violation of forex reels. experts say the harsh action could indicate getting that payment bank licence being scrapped in the next few weeks, while the company says they are mending their processes and that they are not being investigated for violation of forex reels, the investors have been spooked. since its mega listing in 2021 the company has already lost 80% of value as of yesterday's trade. it certainly is like an existential crisis for the company, that was one of the findings of the landscape, along with its rivals google pay and phone pay, they have revolutionised the space where people have mobile

we're also keeping track on paytm.s trading premarket on the back of the company saying its founder and ceo are not under investigation by the country's anti-money laundering agency. but that's not stopping the stock from being under a lot of pressure right now. rishaad: that's what we will be talking about. that stock just continues his move to the downside. let's get the details and get to mumbai and join our government reporter. the reserve bank is restricting operations at paytm payments bank after what we saw last week. what led to this ultimately? what did the reserve bank of india inspectors actually find? >> there is a bank of india inspection found mobile lapses in the company. one key lapse centered around verification. customers, there were many customers without proper verification documents. in some cases, one verification document was used to open thousands of accounts. in accounts, there were millions of rupees of transactions much above the regulatory limit. and minimum balance accounts. these were seri

look at this — the share price of paytm. the fintech giant had the biggest sale of india last year.ntly asked the company's payment bank the halt business due to regulatory concerns. these two companies, once start up these two companies, once start up darlings, highlight the bows of an ecosystem that's now gasping for breath. let's rewind a little bit to 2021. while covid dealt a brutal blow to the global economy, india's start up industry appeared to be immune. the country need them i commented nearly 50 new tech startu ps them i commented nearly 50 new tech startups with a valuation of over $1 billion. they raised an eye—popping $112 billion. but then, things quickly began going downhill. so what went wrong? going downhill. so what went wronu? ., , .,, wrong? companies raising caital wrong? companies raising capital inflated _ wrong? companies raising capital inflated rounds, i capital inflated rounds, leading to founders getting into a — leading to founders getting into a market share grab with massive — into a market share grab with massive bonds by postponing their— massive bo

that's the share price of paytm. the fintech giant had the biggest share sale in india last year. asked the company's payments bank to halt business, due to regulatory concerns. these two companies — once start—up darlings — highlight the woes of an ecosystem that's now gasping for breath. let's rewind a little to 2021. while covid dealt a brutal blow to the global economy, india's start—up industry appeared to be immune. the country minted nearly 50 new tech start—ups with a valuation of over $1 billion. with interest rates at zero, they raised an eye—popping$1t2 billion. but then things quickly began going downhill. so what went wrong? companies raising capital at inflated rounds to leading to founders getting into a market share grab with massive bonds, by postponing their profitability ambitions by maybe a couple of years. well, these mistakes have proved costly. tens of thousands of young indian techies have lost their jobs. dozens of start—ups have shut shop. the sector has seen a bit of a funding freeze, with newbie companies managing to raise barely $7 billion last year. a

is paytm an outlier, or does it point a larger malaise in corporate governance amongst other start—upsernance amongst other start-ups?— other start-ups? it isn't the first and _ other start-ups? it isn't the first and only _ other start-ups? it isn't the first and only one. - other start-ups? it isn't the first and only one. we - other start-ups? it isn't the first and only one. we saw. first and only one. we saw another start—up dream that has also gone down. they went from evaluation of as high as $23 billion in the stock is done basically do nothing. precisely because of corporate governance issues. issues where exploits point out that the founders of the company have a large estate and the companies boards do not get much say in the running of operations. —— experts. despite flagging concerns with regulators they have been minimal changes done. the issue has certainly — editors made more fintechs look into the regulatory stance and their working as far as regulations are concerned.— working as far as regulations are concerned. --it has made. youn: are concerned. --it has made. youn

ordered the company to stop having fresh deposits from march and there are reports and investigation into paytm