Paytm investors lose Rs 17500 crore after RBI blow, shares crash 40% as market cap comes to Rs..

For the second straight trading session on Friday, shares of One 97 Communications Ltd, the parent company of the digital payments startup Paytm, fell below the 20% mark. Although Paytm asserted that it would be able to get past the challenges brought on by the RBI's action against Paytm Payments Bank Limited, a number of analysts have suggested that the move will negatively impact Paytm's business.

The Paytm stock fell to a 52-week low on the BSE when it was locked at its 20 percent lower circuit limit of Rs 487.05. While Paytm's market capitalization is currently Rs 30940 crore, investors lose Rs 17500 crore. According to Arihant Capital, during Paytm's analyst call, the company's management stated that operational adjustments would be necessary and that the RBI's actions were merely a major roadblock.

Founder and CEO Vijay Shekhar posted on X “To every Paytmer, 
Your favourite app is working, will keep working beyond 29 February as usual.  
I with every Paytm team member salute you for your relentless support. For every challenge, there is a solution and we are sincerely committed to serve our nation in full compliance. 
India will keep winning global accolades in payment innovation and inclusion in financial services - with PaytmKaro as the biggest champion of it.”

In a move that raised concerns about the company's main payments business, the Reserve Bank of India (RBI) on Wednesday ordered Paytm Payments Bank to cease accepting new deposits in its accounts or popular digital wallets as of March.