Tag Archives: PAYTM

Vijay Shekhar Sharma, the founder of Paytm, India's leading digital payment platform, has made his first public statements since the Reserve Bank of India (RBI) took action against Paytm Payments Bank. Speaking at a financial technology conference in Tokyo, Sharma expressed confidence in overcoming regulatory setbacks and staging a comeback.

In response to regulatory directives to wind down its operations by March 15, Paytm Payments Bank, a key player in India's digital payment sector, is reportedly considering partnerships with major banks for Unified Payments Interface (UPI) transactions.

In a significant move within India's fintech landscape, Vijay Shekhar Sharma, the founder of Paytm, has relinquished his role as the part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL). This development comes as PPBL faces mounting pressure from regulatory authorities and a mandate to wind down its operations by March 15.

In response to regulatory directives from the Reserve Bank of India (RBI), Paytm Payments Bank, a subsidiary of One 97 Communications (OCL) - commonly known as Paytm, has taken proactive measures to navigate through its current operational challenges. The RBI had earlier instructed Paytm Payments Bank to cease accepting fresh deposits in its accounts and wallets by February 29, subsequently extending the deadline to March 15.

Paytm's CEO, Vijay Shekhar Sharma, introduces the 'VSS Investments Fund,' with a total fund size of Rs 30 crore, focusing on supporting Indian startups in Artificial Intelligence and Electric Vehicles, contributing to India's innovation and entrepreneurship drive.

Chinese firm had sold 3.1% stake in fintech giant in Jan. Paytm shares slumped close to 9% on Friday after Chinese e-commerce giant Alibaba offloaded its entire holding in the online payments aggregator.According to data from NSE, Alibaba sold 21,431,822 shares of Paytm’s parent One97 Communications in a bulk deal …