District Daily News

FM will meet with leaders of fintech industry amid Paytm issues

<p>Finance Minister Nirmala Sitharaman has made the decision to meet with the leaders of financial technology businesses next week in an attempt to convince them to closely adhere to regulatory standards, given the current issues facing prominent fintech operator Paytm.</p>
<p><img decoding=”async” class=”alignnone wp-image-428034″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-fm-will-meet-with-leaders-of-fintech-industry-amid-paytm-issues-2024-2largeimg-458-750×743.jpg” alt=”theindiaprint.com fm will meet with leaders of fintech industry amid paytm issues 2024 2largeimg 458″ width=”1075″ height=”1065″ title=”FM will meet with leaders of fintech industry amid Paytm issues 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-fm-will-meet-with-leaders-of-fintech-industry-amid-paytm-issues-2024-2largeimg-458-750×743.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-fm-will-meet-with-leaders-of-fintech-industry-amid-paytm-issues-2024-2largeimg-458-768×760.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-fm-will-meet-with-leaders-of-fintech-industry-amid-paytm-issues-2024-2largeimg-458-96×96.jpg 96w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-fm-will-meet-with-leaders-of-fintech-industry-amid-paytm-issues-2024-2largeimg-458-150×149.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-fm-will-meet-with-leaders-of-fintech-industry-amid-paytm-issues-2024-2largeimg-458.jpg 900w” sizes=”(max-width: 1075px) 100vw, 1075px” /></p>
<p>The Reserve Bank took regulatory action against Paytm Payments Bank Ltd, an organization supported by One97 Communications Ltd, for violating certain regulatory standards, including as the Know Your Customer (KYC) criteria.</p>
<p>Sources claim that Sitharaman would meet with CEOs of fintech businesses the next week to learn about their issues and worries.</p>