Shares Of Paytm Are Down 20% After RBI Action: Here Is How Internet Reacted With Hindi Film Memes
Paytm stocks experience a 20% decline following regulatory measures by the RBI, prompting widespread reactions on the internet.
Paytm witnessed a significant decline in its shares following the Reserve Bank of India's (RBI) directive to Paytm Payments Bank Limited (PPBL), instructing the cessation of its mobile wallet business and other operations beginning February 29.
In response, numerous individuals took to social media, sharing memes and reactions, causing Paytm to secure a prominent position on X. On the Bombay Stock Exchange (BSE), Paytm shares were halted at Rs 608.80, reflecting a 20% decrease.
Amidst the Indian economy navigating global economic uncertainties, the actions taken by the central bank have sparked concerns regarding the functioning of Paytm Payments Bank.
Nevertheless, adhering to the usual routine, social media users responded by crafting humorous memes incorporating scenes and jokes from Hindi films.
What Has Happened With Paytm?
Paytm shares down by 20% after RBI action | Image: Fortune India
From February 29, 2024, onward, PPBL is restricted from taking in fresh deposits, participating in credit activities, or assisting in account top-ups for customers, encompassing various instruments like prepaid cards, wallets, FASTags, NCMC cards, and more.
The RBI has specified exemptions permitting the crediting of interest, cashback, or refunds at any given time.
Moreover, PPBL customers have the liberty to withdraw or utilize funds from their accounts, spanning savings and current accounts, prepaid instruments, FASTags, National Common Mobility Cards, etc., without any limitations, as long as it does not exceed their available balance.
Let's Check Out The Paytm Memes Here
#Paytm share holders today. pic.twitter.com/P9G7ScbNDj
¡ª Pritesh Shah (@priteshshah_) February 1, 2024
#Paytm share holders after crash in prices pic.twitter.com/dWASxNnEly
¡ª Nocturnal Soul (@Mirage_gurrl) February 1, 2024
#Paytm investors be like .. pic.twitter.com/FpzVmdbPa5
¡ª Mukesh (@mikejava85) February 1, 2024
RBI restricts multiple services of Paytm Payments Bank ?
¡ª Rahul Chauhan (@RahulCh9290) February 1, 2024
Meanwhile paytm#Paytm #PaytmBank #BudgetSession2024 pic.twitter.com/3i7QPsdmm9
¡ª Vivek Gautam (@Imvivek04) February 1, 2024
Me watching #Paytm shares in my portfolio today pic.twitter.com/9YKbgOk121
¡ª Vivek Gautam (@Imvivek04) February 1, 2024
#Paytm stock holders right now ?pic.twitter.com/7Bm4BIT1AY
¡ª Tweeting Quarantino (@rohitadhikari92) February 1, 2024
Meanwhile me who still doesn't use wallets #Paytm pic.twitter.com/NQsMDPzII8
¡ª Promita Mukherjee?? (@promzzz) February 1, 2024
#Paytm paytm shareholders be like
¡ª RAJ (@Raj70074889) February 1, 2024
pic.twitter.com/fdvrX3NBJo
And me who never used or trusted Paytm.#PayTm pic.twitter.com/e6rgPhJgZK
¡ª Neha Singh Gahlot (@NehaSinghGahlot) January 31, 2024
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