Paytm Terminates Some Ties With Troubled Payments Bank Unit

Payments firm Paytm on Friday cut some ties with its payments bank unit, which India's banking regulator has ordered to be wound down, in its latest attempt to address compliance concerns that triggered a meltdown in its shares last month.

Paytm, formally known as One 97 Communications, and its banking unit mutually agreed to end various inter-company agreements, the company said. It did not specify what agreements were being terminated.