Shares of Paytm’s parent company, One 97 Communications, surged 5% on the BSE after RBI asked NPCI to consider Paytm as a third-party UPI provider. Morgan Stanley gave an equal-weight rating to Paytm. RBI allowed Paytm to move its IPO-based payments business to other banks. If NPCI approves TPAP, it will ensure uninterrupted UPI services for Paytm customers.
Source: Times of India/TOI