"Paytm's Plunge: India's Hottest Startup Sees Record Low Amid Regulatory Scrutiny"

Shares of Indian fintech giant Paytm plunged 10% after the Reserve Bank of India (RBI) widened its curbs on Paytm’s Payments Bank, leading to concerns about the company's future. The clampdown has resulted in a significant decline in Paytm's market cap and raised doubts about its ability to continue offering banking services. The ongoing episode is also impacting investor confidence in the Indian fintech market, with regulatory changes making the sector increasingly challenging for many VCs.