The board of Paytm Payments Bank has provided its approval for Rs 60 crore rights issue for its existing shareholders that includes Paytm founder Vijay Shekhar Sharma.

Paytm Payments Bank has said in a filing to corporate affairs ministry that “the consent of the Board is hereby accorded to issue on a right basis, 6,00,00,000 equity shares of the company of the face value of Rs 10 to the investors….,”

It added that these investors include Sharma, One97 Communications Ltd and One97 Communications India Ltd.

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