India's Paytm shares set to tumble after banking unit told to stop business

India's Paytm shares set to tumble after banking unit told to stop business

Paytm Payments Bank, launched Tuesday in Noida, plans 31 branches and 3,000 customer service points in the first year. Photo: Ramesh Pathania/Mint

Shares of Indian payments firm Paytm are set to open lower on Thursday, after a move by the country’s financial regulator to halt business at Paytm’s payments bank unit sparked fears of hits to the company’s profitability and reputation.