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Shares of Paytm jumped 10% to INR 508.85 a piece during today's intraday trade on the BSE after the fintech major reportedly secured approval from the government to invest INR 50 Cr in its payments arm, Paytm Payment Services

The approval will enable Paytm to apply for an online payment aggregator (PA) licence from the Reserve Bank of India.

The approval was reportedly stuck for months partly due to concerns about China-based Antfin (Netherlands) Holdings' shareholding in its parent entity.

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Paytm Investment Funding approval INR 50 Cr Indian Fintech Digital Payments payment gateway online transactions Financial Services Startup Funding Business News Fintech News India business. Paytm funding round.