Shares Of Paytm Fall 20% After RBI bi Action: Internet Reaction

Shares Of Paytm Fall 20% After RBI bi Action: Internet Reaction

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.

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What Has Happened With Paytm?

Shares Of Paytm Drop By 20% After Rbi Action, Here Is How Internet React
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.  

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Let’s Check Out The Paytm Memes Here

#Paytm share holders today.

— Pritesh Shah (@priteshshah_) February 1, 2024

#Paytm share holders after crash in prices

— Nocturnal Soul (@Mirage_gurrl) February 1, 2024

#Paytm investors be like ..

— Mukesh (@mikejava85) February 1, 2024 

RBI restricts multiple services of Paytm Payments Bank 🏦Meanwhile paytm#Paytm #PaytmBank #BudgetSession2024

— Rahul Chauhan (@RahulCh9290) February 1, 2024

— Vivek Gautam (@Imvivek04) February 1, 2024

Me watching #Paytm shares in my portfolio today

— Vivek Gautam (@Imvivek04) February 1, 2024

#Paytm stock holders right now 😭

— Tweeting Quarantino (@rohitadhikari92) February 1, 2024 

Meanwhile me who still doesn’t use wallets #Paytm

— Promita Mukherjee🇮🇳 (@promzzz) February 1, 2024 

#Paytm paytm shareholders be like

— RAJ (@Raj70074889) February 1, 2024 

And me who never used or trusted Paytm.#PayTm

— Neha Singh Gahlot (@NehaSinghGahlot) January 31, 2024

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