New Delhi, Aug. 13 -- One 97 Communications, the parent firm of Paytm, share price surged 5.27 per cent to Rs.1,183.60 on the NSE in Wednesday's trading session after the Reserve Bank of India (RBI) granted in-principle approval to its wholly owned unit, Paytm Payments Services Ltd (PPSL), to function as an online payment aggregator.

Paytm share price has remained largely positive in the near-term. The stock has given multibagger returns in last one year by surging over 132 per cent. In the short-term, Paytm stock has gained 20 per cent in a month and nearly 55 per cent in six month.

The RBI, in its communication, clarified that the approval granted to PPSL is conditional on its compliance with the Guidelines on Regulation of Payment Ag...