paytm macquarie downgrade: Macquarie cuts Paytm price to Rs 275 after RBI crackdown
Brokerage firm Macquarie has downgraded Paytm to ‘underperform’ and sharply cut its target price to Rs 275 from Rs 650 citing a serious risk of customer exodus which “significantly jeopardises its monetisation and business model”.The downgrade comes in the wake of the recent regulatory action on Paytm Payments Bank by the Reserve Bank of India. In a January 31 order, the RBI barred Paytm Payments Bank from offering banking services after February.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…