Paytm’s founder, Vijay Shekhar Sharma, reassures users that the app will not be affected by the Reserve Bank of India’s actions and will continue to function as usual beyond February 29. He expressed gratitude for user support and emphasized the company’s commitment to serving the nation in compliance with regulations.
Expressing confidence in India’s continued progress in the digital finance sector, he said, “India will keep winning global accolades in payment innovation and inclusion in financial services – with PaytmKaro as the biggest champion of it.”
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Paytm Founder Vijay Shekhar Sharma Addresses RBI Restrictions
This comes after the RBI issued a notice on January 31 barring Paytm Payments Bank from providing banking services after February 29. The central bank cited compliance issues but did not disclose the reason for stringent penal action against Paytm. The company has been assuring users that all services tied to Paytm Payments Bank will be transferred to other lenders. Thus, it has said that Paytm services will not be disrupted from March 1.
Earlier, Vijay Shekhar Sharma said, “This is an opportunity for us to come out better, stronger, abler, and more capable for the regulator’s eye and we are going to make sure that we will get out of this situation.”
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