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Top related persons:
Paytm - 1 It's - 1 Vijay Shekhar Sharma - 1 Nirmala Sitharaman - 1 Sharma - 1 Mukesh Ambani's - 1
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New Delhi Reserve Bank of India
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Reserve Bank of - 1 CNBC - 1 Indian Finance Ministry - 1 One97 Communications - 1 India's National Stock Exchange - 1 Financial Services - 1

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☆ Crisis-hit Paytm in talks with top India officials after $2.5 billion market cap wipeout
  + stars: | 2024-02-08 | by ( Shreyashi Sanyal Naman Tandon | Shreyashi Sanyal | Naman Tandon | ) www.cnbc.com   time to read: +2 min
A man exercises in a gym near a barcode for Paytm, an Indian cellphone-based digital payment platform, in New Delhi on November 18, 2021. The Indian Finance Ministry, the RBI and Paytm did not immediately respond to CNBC's requests for comment. A Paytm spokesperson has denied any violation of foreign exchange laws, calling them "unfounded and factually incorrect," according to Reuters. The shares saw a massive three-day sell-off following the RBI's order last week which wiped out more than $2.5 billion in value, before a subsequent bounce. Earlier in the week, Indian billionaire Mukesh Ambani's Jio Financial Services denied media reports it was buying Paytm's wallet business.
Persons: Paytm, It's, Vijay Shekhar Sharma, Nirmala Sitharaman, Sharma, Mukesh Ambani's Organizations: Reserve Bank of, CNBC, Reuters, Indian Finance Ministry, One97 Communications, India's National Stock Exchange, Financial Services Locations: New Delhi, Reserve Bank of India
☆ India 'strongly supports' Sri Lanka debt restructuring plan, it tells IMF
  + stars: | 2023-01-18 | by ( Devjyot Ghoshal Uditha Jayasinghe | Devjyot Ghoshal | Uditha Jayasinghe | ) www.reuters.com   time to read: +2 min
COLOMBO, Jan 18 (Reuters) - India has told the International Monetary Fund that it strongly supports Sri Lanka's debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters. "We hereby confirm our strong support for Sri Lanka's prospective (loan) program and commit to supporting Sri Lanka with financing/debt relief consistent with restoring Sri Lanka's public debt sustainability," Indian finance ministry official Rajat Kumar Mishra told the IMF chief in a letter dated Jan. 16. Sri Lanka owes India around $1 billion that will come under the debt restructuring plan, a source familiar with the matter told Reuters earlier this week. New Delhi separately provided Sri Lanka with about $4 billion in rapid assistance between January and July last year, including credit lines, a currency swap arrangement and deferred import payments. Sri Lanka owed Chinese lenders $7.4 billion - nearly a fifth of its public external debt - by the end of last year, according to calculations by the China Africa Research Initiative (CARI).
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