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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The fintech giant and its founder are not new to crises, but the latest debacle dwarfs anything the company has faced in the past. The road to revival will be a tough one.
Paytm is in an unprecedented mess. The kind that could make a comeback nearly impossible for the Noida-based fintech company or its founder and CEO, Vijay Shekhar Sharma.
Last week, the Reserve Bank of India ordered Paytm Payments Bank—jointly owned by Sharma and Paytm parent One97 Communications—to stop all new banking activities by the end of February. These include accepting deposits in customer accounts; issuing prepaid instruments such as wallets and FASTags; and processing UPI and bill payments.
The central bank’s action, though severe, was hardly surprising. It follows at least five years of repeated warnings, audits and penalties. Suffice …
