<p>New Delhi: Shares of One97 Communications Ltd, the owner of the Paytm brand, fell 5 per cent to hit a lower circuit limit in the late morning trade on Wednesday.</p><p>The stock declined 4.99 per cent to Rs 406.15 -- its lower circuit limit -- on the BSE.</p><p>It fell 4.99 per cent to hit the lower circuit limit of Rs 406.20 on the NSE.</p><p>Shares of One97 Communications had hit upper circuit limits on Tuesday, Monday, and Friday.</p><p>Vijay Shekhar Sharma has stepped down as part-time non-executive chairman of Paytm Payments Bank Limited and the board of the bank has been reconstituted, a filing said on Monday, adding that PPBL will commence the process of appointing a new chairman.</p>.Paytm likely to partner with four banks for enabling UPI transactions.<p>The dramatic turn of events assumes significance in the backdrop of RBI's crackdown on Paytm Payments Bank over persistent non-compliance and continued material supervisory concerns.</p><p>Last month, in a regulatory action, the central bank barred PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29 -- a deadline that was later extended to March 15.</p><p>One97 Communications Ltd (OCL) is the owner of the Paytm brand. One97 Communications holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL. Vijay Shekhar Sharma has a 51 per cent stake in the bank. </p>
<p>New Delhi: Shares of One97 Communications Ltd, the owner of the Paytm brand, fell 5 per cent to hit a lower circuit limit in the late morning trade on Wednesday.</p><p>The stock declined 4.99 per cent to Rs 406.15 -- its lower circuit limit -- on the BSE.</p><p>It fell 4.99 per cent to hit the lower circuit limit of Rs 406.20 on the NSE.</p><p>Shares of One97 Communications had hit upper circuit limits on Tuesday, Monday, and Friday.</p><p>Vijay Shekhar Sharma has stepped down as part-time non-executive chairman of Paytm Payments Bank Limited and the board of the bank has been reconstituted, a filing said on Monday, adding that PPBL will commence the process of appointing a new chairman.</p>.Paytm likely to partner with four banks for enabling UPI transactions.<p>The dramatic turn of events assumes significance in the backdrop of RBI's crackdown on Paytm Payments Bank over persistent non-compliance and continued material supervisory concerns.</p><p>Last month, in a regulatory action, the central bank barred PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29 -- a deadline that was later extended to March 15.</p><p>One97 Communications Ltd (OCL) is the owner of the Paytm brand. One97 Communications holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL. Vijay Shekhar Sharma has a 51 per cent stake in the bank. </p>