PayTM Gets Govt Approval For Rs 50 Cr Investment In Payments Arm: Report
This decision clears the way for the unit, a significant part of Paytm's business, to resume normal operations
Paytm has received government approval for its Rs 500 million ($5.97 million) investment in Paytm Payment Services, according to Reuters.
This decision clears the way for the unit, a significant part of Paytm's business, to resume normal operations.
The approval, previously delayed due to the company's links to China, allows Paytm to seek a payment aggregator license from India's central bank.
Following the news, Paytm shares surged 10 per cent to Rs 509.05.
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