Shares of Paytm’s parent company, One 97 Communications, hit a record low. Paytm is losing business due to RBI ban on Paytm Payments Bank. Authorities advise users to get new RFID stickers. Retail investors are warned to stay away from the stock.
RBI governor supports independence of central bank
Governor Malhotra praised US Fed Chair Jerome Powell’s efforts to uphold the central bank’s independence amidst political pressure. Malhotra highlighted Powell’s commitment to this principle,