PAYTM FOUNDER Vijay Shekhar Sharma, a Bollywood buff, finds himself confronting the kind of existential crisis often found in cinema.
This is because the Reserve Bank of India (RBI) has asked the group’s Paytm Payments Bank (PPBL) to halt most of its activities—like taking more deposits, conducting credit transactions, and allowing customers to top up their accounts—after February 29 due to persistent noncompliance.
One97 Communications (OCL), the parent company of Paytm, owns 49% equity in PPBL, with Sharma, the majority owner, holding the rest. RBI allows payments banks, under
