India's Paytm loses $1.2b in market cap after RBI restrictions on its payments bank

India's Paytm loses $1.2b in market cap after RBI restrictions on its payments bank

Photo: Bloomberg

Shares of Indian payments firm Paytm tumbled 20% on Thursday, after a move by the country’s financial regulator to halt business at associate Paytm Payments Bank sparked fears of hits to the company’s profitability and reputation.