Paytm gets preliminary RBI nod for wallet licence; shares hit record high

India’s Paytm on Friday received preliminary central bank approval for its payments services unit to issue prepaid payment products, including digital wallets, sending its shares to a record high of 1,960 rupees.

Paytm Payments Services will be able to offer prepaid payment instruments, including wallets, to customers after receiving the central bank’s final authorisation, the company said in a filing.