Paytm hits 5% upper circuit on VSS assurance on QR codes, soundboxes beyond March 15

Paytm shares stayed in the green with a 5 percent rise on February 20 after founder and CEO Vijay Shekhar Sharma assured that its QR code and soundbox facilities will continue to work even after the March 15 deadline set by the Reserve Bank of India for the strict restrictions it has slapped on the bank.

“Paytm QR, soundbox and EDC (card machine) will continue to work like always, even after March 15. The latest FAQ issued by RBI on point #21 clarifies it unambiguously. Do not fall for any rumour or let anyone deter you to championing Digital India," Sharma wrote on X (formerly Twitter).

The RBI confirmed that merchants - around 80 percent as per the management - using Paytm QR or soundbox linked to another bank account can continue beyond March 15. At 9:16am, Paytm shares were trading at the upper circuit at Rs 376 on the National Stock Exchange (NSE). So far this year, the stock has tanked 41 percent.