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Paytm Founder and CEO Vijay Shekhar Sharma, speaking at the 7th JITO Incubation and Innovation Fund (JIIF) Foundation Day, likened his company’s recent setbacks to a personal tragedy, calling it an emotionally challenging experience.
In a heartfelt metaphor, Sharma said, “As a founder, my company is like my daughter…as a company, we were getting mature…it is just as if a daughter who is a school topper has met with an accident on way to an entrance test…that is the kind of feeling which is little personal, emotional feeling.” His analogy highlights the deep connection he feels towards Paytm and the impact of its challenges on him personally.
Sharma also shared insights from the recent actions taken by the Reserve Bank of India (RBI) against Paytm Payments Bank, acknowledging that the situation was a significant emotional hurdle. However, he emphasized that this experience has been a crucial learning opportunity, reinforcing the importance of fulfilling professional responsibilities.
During the event, Sharma spoke about his dreams, ambitions, and the highs and lows he has faced in his entrepreneurial journey. He expressed his aspiration to build a $100 billion company, aiming for global recognition of Paytm as an Indian firm. He noted that listing a company brings “a lot more responsibility and maturity,” which has its own value and joy.
Despite the setbacks, Paytm is showing signs of recovery and stabilization, particularly in its Unified Payments Interface (UPI) business. The total value of UPI transactions processed on the Paytm platform grew to ₹1.24 trillion in May, supported by initiatives like Credit Card on UPI and the promotion of UPI Lite.
Sources By Agencies
