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Informist, Saturday, Apr. 25, 2026

 

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--One 97 Comm: No exposure to Paytm Payments Bank 
--CONTEXT: RBI cancelled Paytm Payments Bank's licence Friday 
--One 97 Comm: Paytm services to continue to operate uninterrupted 
--One 97 Comm: No management of the co involved with Paytm Payments Bank 
--One 97 Comm: Had impaired investment in Paytm Payments Bank as of Mar 2024

 

MUMBAI – One 97 Communications Ltd., which owns the Paytm brand, said it had no exposure to Paytm Payments Bank and neither does it conduct any "material" business with the bank, it informed exchanges late Friday. The statement comes after the Reserve Bank of India cancelled the licence of the lender on grounds of non-compliance with regulation. One 97 Communications said its services, which include the Paytm app, unified payments interface and other products, will continue to operate uninterrupted. 

 

Paytm Payments Bank is an associate entity of One 97 Communications. In the filing, the financial services provider said it faced "no direct financial impact" of the licence cancellation since it had impaired its investment in the bank as of Mar. 2024. No management personnel of the company are involved in the operations of the payments bank, One 97 Communications said.  

 

The central bank cancelled the bank's licence Friday after barring the lender from onboarding new customers in March 2022. The regulator Friday said the bank's manner of operations were "detrimental" to the interest of depositors. The central bank had imposed restrictions on the bank in January and February 2024, preventing further deposits, advances and other products. 

 

Friday, shares of One 97 Communications closed 1.1% lower at INR 1,147.35 on the National Stock Exchange. For the December quarter, One 97 Communications reported a consolidated net profit of INR 2.25 billion on revenues of INR 21.94 billion.  End

 

Reported by Cassandra Carvalho

Edited by Deepshikha Bhardwaj

 

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