 "Vijay Shekhar Sharma")
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Too close to the sun: Paytm Payments Bank got its licence in January 2017. Seven years later, it finds itself cornered over serious regulatory violations centred around the breach of KYC and AML norms, and suspicious mule accounts
Coldplay’s A Sky Full of Stars reverberated in the large conference room of Paytm’s Noida headquarters in the summer of 2016. On May 31, 2016, to be precise.
Vijay Shekhar Sharma, founder and chairman of One97 Communications — the parent company of Paytm — took on the role of DJ himself to bring cheer into the room before starting a presentation on the company’s payments bank road map.
Though many of the companies that had secured payments bank licences had exited the sector, finding the regulatory environment hard to handle, Sharma told the media during the presentation that the payments bank would
First Published: Feb 04 2024 | 11:10 PM IST
