India's Paytm gets preliminary RBI nod for wallet licence; shares hit record high
Paytm Payments Services will be able to offer prepaid payment instruments, including wallets, to customers after receiving the central bank’s final authorisation, says company
On November 13, 2026, India's Paytm secured preliminary approval from the Reserve Bank of India (RBI) for its payments services unit to issue prepaid payment products, including digital wallets. This development has caused Paytm's shares to reach a record high of 1,960 rupees. The approval allows Paytm Payments Services to offer prepaid payment instruments, including wallets, to customers once the RBI provides its final authorization.
The unit has been waiting for this authorization for over two years, following the RBI's decision to halt Paytm Payments Bank's normal wallet operations due to persistent regulatory non-compliance and supervisory concerns. Earlier this year, the RBI also canceled the banking license issued to Paytm Payments Bank. This recent approval enables Paytm's wholly-owned subsidiary to potentially resume wallet services, subject to meeting the RBI's terms and conditions.
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