Vijay Shekhar Sharma Confirms Paytm’s Operation Post RBI’s Feb 29 Directive

• ByStartupStory     |    February 2, 2024

In response to the Reserve Bank of India’s directive to cease operations by February 29, Paytm founder Vijay Shekhar Sharma assured users in a post on X that services related to Paytm Payments Bank will persist beyond the given deadline. He directly addressed Paytm app users, stating, “To every Paytmer, your favourite app is working, will keep working beyond 29 February as usual.” Sharma expressed gratitude for user support and pledged the Paytm team’s commitment to achieving compliance with the RBI’s flagged issues.

He mentioned, “I, with every Paytm team member, salute you for your relentless support. For every challenge, there is a solution, and we are sincerely committed to serve our nation in full compliance.” Despite the regulatory challenges, Sharma remained optimistic about the future, stating, “India will keep winning global accolades in payment innovation and inclusion in financial services – with PaytmKaro as the biggest champion of it.”

This reassurance from Vijay Shekhar Sharma follows the RBI’s notice on January 31, which directed Paytm Payments Bank to halt its banking services after February 29. The founder’s commitment to continuous advancement in the fintech sector reflects a determination to navigate challenges and maintain the app’s functionality for its users.

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