Jio Financial denied being in talks to acquire Paytm wallet.
“We make it clear that this news item is speculative and that no negotiations have taken place in this regard,” JFSL said in a late-night filing with regulators. Stock exchange BSE was asked to comment on reports that the NBFC is in talks with One 97 to acquire its wallet business.
According to reports, the stock price of the NBFC, which was demerged last year and listed on the stock exchange, closed 14 per cent higher at Rs 289 on the BSE.
The stock exchange also asked Paytm to clarify the news report. I’m waiting for that answer.
On this morning hindu business lines The newspaper reported that Jio has been in talks since November last year, but discussions with HDFC Bank began just before the RBI’s ban on Paytm Payments Bank. According to reports, Jio may propose to acquire Paytm Payments Bank.
Paytm stock price fell 42% in just three days after RBI banned Paytm Payments Bank from providing all kinds of banking services for violating regulations, eroding investor assets worth Rs 20,500 crore in the process. The stock closed Monday’s session at an all-time low of Rs 438.35 on the BSE. The regulator is also said to be considering revoking Paytm.RBI’s banking license as well as possible money laundering and know-your-customer (KYC) violations. It found that KYC checks for hundreds of thousands of customers were missing and some accounts were owned by individuals who had had problems with enforcement agencies in the past or had abnormal balances running into millions of rupees in some cases. The central bank has reported several cases where a single permanent account number was used to open more than 1,000 accounts.
Security agencies are investigating the possibility of the company being used as a front for money laundering, ET reported earlier.
Paytm, however, denied reports that neither the company nor its founder and CEO were being probed by the Enforcement Directorate over money laundering charges or foreign exchange regulations.
“We would like to reiterate that the company and its affiliate Paytm Payments Bank Limited are not subject to any such investigation. Such media reports are completely misleading, baseless, malicious and detrimental to the interests of all stakeholders. impact,” Paytm said.
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