Team Blitz India
Paytm founder and Chief Executive Officer Vijay Shekhar Sharma met Union Finance Minister Nirmala Sitharaman in New Delhi last week to discuss the ongoing challenges faced by his fintech firm following the Reserve Bank of India curbs.
The high-level meeting took place hours after Sharma and few Paytm officials had met the RBI to discuss regulatory concerns. According to reports, the central bank heard the fintech giant without making any commitments.
“Discussions are on about addressing the regulatory concerns and compliance issues with both the RBI and the ministry,” said sources. The RBI had recently asked Paytm to stop accepting new deposits in its accounts and digital wallets from February 29. The company has sought an extension of the deadline from the RBI and has also been seeking clarity from the central bank on the transfer of its licence for the wallets business and FASTag.
Paytm has rejected reports of either the company or its founder Sharma being probed by the Enforcement Directorate. “Categorically deny any investigation by the Enforcement Directorate on OCL, our associates, and / or its Founder and CEO for antimoney laundering activities. Neither the company nor its founder and CEO are being investigated by the Enforcement Directorate regarding, inter alia, money laundering”, the company statement said.
“We would like to set the record straight and deny any involvement in anti-money laundering activities. We have and continue to abide by Indian laws and take regulatory orders with utmost seriousness,” the company added.
