Highlights

  • Paytm founder Vijay Shekhar Sharma meets FM Sitharaman
  • Report: Call which lasted for nearly 10 minutes
  • Sharma explained his position

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Following the discussion, he was advised to address the issue with the RBI

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Paytm founder Vijay Shekhar Sharma met with Finance Minister Nirmala Sitharaman on Tuesday regarding the crisis faced by Paytm Payments Bank as per ANI report.

During the meeting, described as a courtesy call lasting about 10 minutes, Sharma discussed his perspective.

Also read/watch - Paytm CEO Vijay Shekhar Sharma meets with RBI to address regulatory concerns

The report further added that following the discussion, he was advised to address the issue with the RBI. However, specifics of Sharma's clarification were not disclosed.

The RBI had recently imposed restrictions on Paytm Payments Bank, prohibiting it from accepting further deposits, credit transactions, or top-ups in various customer accounts and instruments starting February 29.

ED seek report from RBI on Paytm

The Enforcement Directorate and the Financial Intelligence Unit have asked the RBI to share its report on the recent action taken to bar Paytm Payments Bank Ltd from accepting deposits or top-ups in customer accounts, official sources said on Tuesday.

Federal agencies ED and FIU, tasked with checking violations under the Prevention of Money Laundering Act (PMLA), are already probing matters related to the payment gateway under provisions of the anti-money laundering law.

Following the action of the Reserve Bank of India (RBI), Paytm has said it did no wrong and asserted that its brand owner company One97 Communications, founder and CEO Vijay Shekhar Sharma and Paytm Payments Bank Ltd (PPBL) are not being investigated for money laundering or foreign exchange violations.


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