Why Paytm shares are down 70% since it listed  

[{"selector":"#anim-8d302877-3226-49ed-a9ee-9a03e8ef005e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(14.257882904736523%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The latest tumble in the company’s share price is on account of a ban by the Reserve Bank of India on Paytm Payments Bank from onboarding any new customer

[{"selector":"#anim-352e2df5-3871-4d95-adeb-eb4ac54dbc35 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-73c1d281-b4de-48fa-8b3a-b0017a00ae39","keyframes":{"transform":["translate3d(-104.49735%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-939e6b31-5cce-44d4-851b-496174531a4b","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}]

Shares of One 97 Communications Ltd — parent company of fintech platform Paytm — hit a new all-time low of Rs 672 per share after falling 12% in early trade on Monday

[{"selector":"#anim-c9974bc5-f2b3-4a9d-b8c1-6d3b476f1a3f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.882660350500927%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-45770e8d-8b83-4ac3-84a4-3e260b32a345","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

At the same time, 50-stock benchmark index Nifty was down 0.08% at 16,617.35 points.

[{"selector":"#anim-7f963fd0-f66a-4049-aff8-100591d98324 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-4893b9ab-f147-4943-acc3-b18265601dec","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3eda9242-8dc0-451f-bd87-cfde533f5635","keyframes":{"transform":["translate3d(-105.02645%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Why is Paytm’s share price falling? The latest tumble in the company’s share price is on account of a ban by the Reserve Bank of India (RBI) on Paytm Payments Bank from onboarding any new customers.

[{"selector":"#anim-bc2959cc-adf6-4f44-a2cd-a6be35f6f3ef [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(51.64473689605086%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-1f437a71-0d66-4366-8807-fae08db78a39","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4d872274-6e82-4b74-b0e7-599b2d34d6e7","keyframes":{"transform":["translate3d(-108.28729%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

RBI said in a statement Friday that it had taken the action on the basis of certain “material supervisory concerns”, but did not detail the concerns.

[{"selector":"#anim-e0d57dbb-3342-4160-a6aa-6fabf5c574bd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f3d514dd-ddba-4a29-8ee8-fed474028400","keyframes":{"transform":["translate3d(-108.83978%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4ff79d51-caa2-4061-be81-bcd3493cd09d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

What is the way forward for Paytm Payments Bank? The RBI has also directed the payments bank to appoint an IT audit firm to conduct a comprehensive System Audit of its IT system.

[{"selector":"#anim-98bb392e-17ad-4183-9cf9-bc82c94aefa3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dcb09c3e-1624-45e1-b8a2-31a5e0b88f3f","keyframes":{"transform":["translate3d(-108.83978%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-63af4e9e-f401-458a-882b-8ca3052ff315 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

, Paytm Payments Bank said that it was working with the banking regulator to get the concerns addressed

[{"selector":"#anim-3b2d1bea-bb99-454d-a191-458cd82988a4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3a128e2a-6246-4f79-a323-cedcc55b62c6","keyframes":{"transform":["translate3d(-108.83978%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-969f0009-a542-41e9-a8ef-8935631809cb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

“We shall notify when we recommence the opening of new accounts after obtaining RBI approval.We shall notify when we recommence the opening of new accounts after obtaining RBI approval,”

[{"selector":"#anim-88316ba0-a274-445f-9769-25509912a943","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-403ddbfe-4953-4df5-ba2f-b47b1fa42628","keyframes":{"transform":["translate3d(-108.83978%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ec794c6c-93eb-43d4-b8d0-e009b60314b4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Since its listing on November 18, Paytm’s shares are down over 70% from the issue price of Rs 2,150 apiece.

[{"selector":"#anim-90819172-894d-4cd2-800e-8ce570f3d8da","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-41fb36a4-b15d-43b5-bdaa-75e7c5fa4816","keyframes":{"transform":["translate3d(-108.83978%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e98ac536-b701-4a99-b41e-2c1bfda82be7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]