What to make of Vijay Shekhar Sharma’s profitability promise + CCI puts debt trustees on notice

The fintech CEO’s promise comes on the back of a poor track record + the antitrust watchdog has to prove that the big trustees are indeed a cartel.

Ashwin here. Startup founders and their claims should be taken with a pinch of salt. Especially if it happens to be Paytm’s Vijay Shekhar Sharma, who earlier this week claimed the fintech company would turn profitable at an operational level by September 2023. Separately, the Competition Commission of India is investigating Muthoot Finance’s claim that debt trustees have formed a cartel and jacked up their fees. What CCI decides will impact a Rs 36.12 lakh crore industry. Read on. 

Paytm’s broken promises

“Not again!” a senior analyst at a leading brokerage texted me on Wednesday, with a copy of Vijay …

Author

Advait Palepu

Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.

Writer

advait@mailtmc.com

Mumbai

Author

Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

Editor, Banking

furquan@mailtmc.com

Delhi

Author

Ashwin Manikandan

Ashwin covered fintech and banking at The Morning Context. Previously, he was at The Economic Times, where he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.

Writer

ashwin@mailtmc.com

Delhi