Paytm shares crash 13% after RBI restriction on payments bank

New Delhi: Shares of One 97 Communications, the parent company of Paytm,

extended its freefall on Monday, as it dropped

another 13 percent on the back of negative news flow.

The Reserve Bank of India (RBI) has barred Paytm Payment

Bank from adding new customers due to likely gaps in its technology systems.

The bank has also been directed to appoint

an IT audit firm to conduct a comprehensive system audit of its IT system, the RBI said in a release.

Following the development, shares of Paytm dropped as much