In addition to its impressive second-quarter earnings, the fintech business Paytm has received approval from NPCI to expand its UPI user base. Paytm, a fintech company that offers online payment services, reported stellar September quarter earnings yesterday.

Following this, the business received more positive news. Paytm now has a new UPI (UPI) thanks to the National Payments Corporation of India, or NPCI, has approved the addition of users. Following the Reserve Bank of India’s (RBI) shock earlier this year, the company has experienced a significant amount of relief.

The regulator stressed in the NPCI’s permission letter that Paytm must adhere to all regulatory requirements, including those pertaining to risk management, multi-bank norms, and data security.
Additional compliances will need to be adhered to. Following this, Paytm stated in the regulatory filing that it is pleased to announce that, in accordance with all applicable regulations, NPCI has approved the inclusion of new users to our UPI platform.

Improvement in Paytm shares

Paytm shares, meanwhile, plummeted on Tuesday and were down 5.78 percent at market close, despite the company’s stellar September quarter earnings. It declined and concluded at Rs 684. However, it is certain that the combination of these two positive developments will have an impact on the company’s stock today (Paytm Share). Let’s tell you that Paytm has a market valuation of Rs 43770 crore.