Paytm Founder Vijay Shekhar Sharma Engages with Finance Minister Nirmala Sitharaman
The gathering occurs in the midst of the turmoil surrounding the operations of Paytm Payment Bank.
Paytm founder and CEO of One97 Communications, Vijay Shekhar Sharma, held a meeting with Finance Minister Nirmala Sitharaman, along with top Department of Financial Services officials. This meeting took place against the backdrop of the crisis impacting Paytm Payment Bank’s operations.
During the meeting, Ministry representatives emphasized unequivocally that the bank must adhere to the directives and regulations set forth by the Reserve Bank of India (RBI).
Mr. Sharma was made aware that the government has no involvement in the matter, which involves the central bank instructing Paytm Payment Bank to halt the acceptance of deposits after February 29, according to sources familiar with the situation.