<p>New Delhi: The shares of One97 Communications Ltd, the parent company of <a href="https://www.deccanherald.com/tags/paytm">Paytm</a> brand, tanked nearly 9 per cent on Friday as investors continued to dump the stock.</p><p>Extending its previous day's decline, the stock dived 8.67 per cent to Rs 408.30 on the BSE.</p><p>Shares of the company tumbled 8.20 per cent to Rs 410 on the NSE.</p>.Paytm Payments Bank's independent director resigned from the board following RBI order.<p>Shares of One97 Communications Ltd fell 10 per cent to hit lower circuit limit on Thursday, after a two-day rally in the stock fizzled out.</p><p>One97 Communications stock price had climbed 10 per cent on Wednesday and rebounded over 3 per cent on Tuesday after three days of sharp fall.</p><p>From February 1-5 (three days of trading), the company's stock tumbled over 42 per cent, wiping out Rs 20,471.25 crore from its market valuation, following the Reserve Bank of India's crackdown.</p>.<p>On January 31, the RBI ordered Paytm Payments Bank Ltd, a restricted bank that can take deposits but cannot lend, to not take any further deposits or conduct credit transactions or carry out top-ups on any customers accounts, prepaid instruments, wallets, and cards for paying road tolls after February 29.</p><p>Reserve Bank Governor Shaktikanta Das on Thursday said there are no systemic worries and the action on Paytm was driven by a "lack of compliance" at Paytm.</p><p>Paytm Payments Bank Ltd (PPBL) is an associate of One97 Communications Ltd.</p>.<p>One97 Communications holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL. Founder Vijay Shekhar Sharma has a 51 per cent stake in the bank.</p><p>Paytm Payments Bank independent director Manju Agarwal is learnt to have resigned from the board after an RBI order imposed restrictions on the bank's operations.</p><p>According to a source, Agarwal resigned with effect from February 1.</p>
<p>New Delhi: The shares of One97 Communications Ltd, the parent company of <a href="https://www.deccanherald.com/tags/paytm">Paytm</a> brand, tanked nearly 9 per cent on Friday as investors continued to dump the stock.</p><p>Extending its previous day's decline, the stock dived 8.67 per cent to Rs 408.30 on the BSE.</p><p>Shares of the company tumbled 8.20 per cent to Rs 410 on the NSE.</p>.Paytm Payments Bank's independent director resigned from the board following RBI order.<p>Shares of One97 Communications Ltd fell 10 per cent to hit lower circuit limit on Thursday, after a two-day rally in the stock fizzled out.</p><p>One97 Communications stock price had climbed 10 per cent on Wednesday and rebounded over 3 per cent on Tuesday after three days of sharp fall.</p><p>From February 1-5 (three days of trading), the company's stock tumbled over 42 per cent, wiping out Rs 20,471.25 crore from its market valuation, following the Reserve Bank of India's crackdown.</p>.<p>On January 31, the RBI ordered Paytm Payments Bank Ltd, a restricted bank that can take deposits but cannot lend, to not take any further deposits or conduct credit transactions or carry out top-ups on any customers accounts, prepaid instruments, wallets, and cards for paying road tolls after February 29.</p><p>Reserve Bank Governor Shaktikanta Das on Thursday said there are no systemic worries and the action on Paytm was driven by a "lack of compliance" at Paytm.</p><p>Paytm Payments Bank Ltd (PPBL) is an associate of One97 Communications Ltd.</p>.<p>One97 Communications holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL. Founder Vijay Shekhar Sharma has a 51 per cent stake in the bank.</p><p>Paytm Payments Bank independent director Manju Agarwal is learnt to have resigned from the board after an RBI order imposed restrictions on the bank's operations.</p><p>According to a source, Agarwal resigned with effect from February 1.</p>