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

BENGALURU India’s Paytm ​on Friday (November 13, 2026) 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.

Also Read: The Paytm Payments Bank debacle | Explained https://www.thehindu.com/business/Economy/the-paytm-payments-bank-debacle-explained/article67826703.ece The unit can offer these services ‌to customers after receiving ​the RBI’s final authorisation. The approval comes ⁠more than two years after the RBI barred Paytm ‌Payments Bank from accepting fresh deposits and wallet top-ups over persistent regulatory non-compliance and supervisory concerns, effectively halting its ‌normal wallet operations.

Earlier, this year ​the RBI cancelled the banking licence issued to ⁠Paytm Payments Bank.