Watch | Paytm Payment Bank’s debacle: a reckoning for India’s fintech sector
The Hindu
A look at what went wrong with PayTM Payment’s Bank and the swinging fortunes of the company founded by Vijay Shekhar Sharma
It has dominated business news cycles for the past month now, and the story is far from over. The Reserve Bank of India recently barred Paytm Payments Bank from undertaking any routine activity including accepting deposits or credit transactions or wallet top-ups to pay monthly bills or FASTag.
This has triggered concern across the fintech sector, but the central bank’s January 31st directive came after what it called were “persistent non-compliances” by the payments bank associate of One97 Communications and “continued material supervisory concerns”.
So what went wrong at one of India’s poster children for furthering financial inclusivity?
To understand RBI’s concerns, and more on PayTM’s rise and fall, we also spoke to Indrajit Gupta, a veteran business journalist and founder of the website Foundingfuel.
Script and presentation: Kunal Shankar
Interview: Saptaparno Ghosh
Production: Shikha Kumari
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