Paytm launches UPI statement download service
Paytm on Wednesday has announced the launch of a new UPI statement download service.
The shares of the Mutual Funds industry in the crisis-ridden Paytm has increased in January from the last month, showing confidence towards the fintech company.
Before crashing by 55 per cent from January 31 – the day of RBI circular – till date, the mutual fund industry’s shareholding in Paytm increased by 41 per cent in January 2024 from December 2023, shows data analysed by Fisdom Research.
The company’s stock price has corrected by 55 per cent on both NSE and BSE since January 31 till date.
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Nippon Mutual Fund, Mirae Mutual Fund, and Motilal Oswal Mutual Fund rank as the top three, holding the largest number of Paytm shares in their portfolios.
Two AMCs, Baroda BNP Paribas, and Navi MF were the new entrants in Paytm in January through actively managed funds.
Notably, the HSBC AMC completely exited from the stock in January 2024, from its actively managed funds. Quant Mutual Fund on the other hand reduced the exposure by 72.4 per cent during the same period & and Aditya Birla Sunlife MF has reduced the exposure by 10 per cent.
SBI Mutual Fund, Edelweiss Mutual Fund, Kotak Mutual Fund, TATA Mutual Fund, ICICI Mutual Fund, Bandhan Mutual Fund, and Grow Mutual Fund were not actively exposed to Paytm.
The Mutual Fund Industry’s Rs 3,384 Crore Exposure to Paytm. The number of schemes in Paytm’s portfolio increased from 70 to 77 in January 2024.
Recently, the Reserve Bank of India has further extended the date to stop all transactions for Paytm Payments Bank till March 15. Earlier, it had asked the Fintech giant to stop Payments Bank operations from February 29.
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