Brief by Shorts91 Newsdesk / 06:45pm on 05 Feb 2024,Monday Business
Fintech giant Paytm dismisses reports of Enforcement Directorate investigations against the company or its CEO Vijay Shekhar Sharma. Amidst RBI's crackdown, Paytm clarifies no probe initiated. RBI imposed a deadline for Paytm Payments Bank to halt transactions by February 29 due to alleged KYC violations. The company refutes accusations of FEMA violations and asserts compliance with RBI regulations. Despite concerns about money laundering, Paytm reaffirms adherence to regulatory standards. In a statement, Paytm labels media reports as misleading and malicious, aiming to protect stakeholders' interests. The company pledges to provide clarifications as necessary to ensure transparency and safeguard its reputation.
