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Paytm Puts Its Wallet Biz On Sale, Jio Financial, HDFC Frontrunners

OutlookIndia · 1y

Paytm is reportedly in talks with potential investors to sell its wallets business. HDFC Bank and Jio Financial Services are said to be the frontrunners in acquiring this segment of the company. The Reserve Bank of India recently stopped Paytm Payments Bank from onboarding new customers and carrying out certain activities, prompting these sale discussions. Paytm's shares have seen a significant decline, while Jio Financial's shares have surged.