Paytm Founder Might Dilute 1% Of His Stake To The Parent Company To Support Payment Bank

In order to provide a financial support to the Payment Bank that the mobile payments and e-commerce giant PayTm is currently working on, founder Vijay Shekhar Sharma might dilute up to 1% of his own stake in holding company One97 Communications Ltd, reports ET.

Following a request by multiple entities, Reserve Bank of India granted permission to 11 companies to set up their Payment Bank within 18 months of receiving the permission.

The 11 companies namely, including Reliance Industries,

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