BENGALURU: A day after the Reserve Bank of India barred Paytm Payments Bank (PPB) from offering various services including accepting deposits in any customer account effective March 2024, Paytm CEO Vijay Shekhar Sharma said that they believe in partnership with the banks.
In a conference call on Thursday, Sharma said, “On behalf of Paytm, this is more of a speed bump, but we believe in the partnership of the banks and we will be able to see the same in the next few days.”
The founder and CEO added, “This is an important moment for all of us, we have seen the update from RBI. The important thing is that we have been given directions and we are taking immediate steps to comply.”
He also said that two years ago, an embargo was placed earlier on on-boarding new customers and that they had already started to work with banks, and will continue to decline and decrease dependency on PPB.
Going forward, with respect to operations, Paytm will work with large banks.
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