New Delhi, March 3 -- Shares of financial technology firm One 97 Communications, parent of payment aggregator Paytm, dropped as much as 4% in intraday trade on Monday, March 3, after the enforcement directorate (ED) sent a notice to the fintech firm for the alleged violation of certain FEMA rules by the company and its two subsidiaries.

However, the stock erased all losses by the afternoon session to trade in the green amid a recovery in the broader markets and following a partnership with RBL Bank.

In an exchange filing by the company on March 1, Paytm said, "We hereby inform that a show cause notice dated February 27, 2025, has been received by the Company on February 28, 2025, at 19:27 Hrs. from the Directorate of Enforcement, Govern...