India's Paytm shares jump 5% as central bank extends deadline to wind down arm

India's Paytm shares jump 5% as central bank extends deadline to wind down arm

FILE PHOTO: Paytm app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration

Shares of Indian payments firm Paytm rose 5% on Monday, after the country’s central bank granted its banking arm more time to wind down operations and the company partnered with Axis Bank to try to keep some of its popular products running.