Paytm CEO Vijay Shekhar Sharma said the app continues to add new customers. (file image)
Vijay Shekhar Sharma did not provide any details on why the RBI issued a directive earlier last week to bar Paytm Payments Bank from adding new customers.
Paytm CEO Vijay Shekhar Sharma recently said that the Reserve Bank of India’s procedures are respectful but Paytm was now a publicly listed company. Paytm was still continuously adding new customers, Sharma said, arguing that the Reserve Bank of India has not banned that process.
“Let me not say what RBI does. But I can absolutely say that this is not true. People are taking interpreting it to the next level. RBI’s procedures are well respected and understandable. Paytm is not a small time bank, it is now a publicly listed company,” the CEO said in an interview with Moneycontrol.
Sharma, however, did not provide any details on why the RBI issued a directive earlier last week to bar Paytm Payments Bank from adding new customers.
“I can’t say anything more. I can’t give more details as it is RBI’s process.”
Asked whether the company was sharing data with Chinese companies, Sharma said it was a false claim. “This is a completely malicious, false and investigative statement which is not corroborated by any facts. Paytm is fully compliant with data localization norms and has no servers outside India,” he told Moneycontrol.
“I want to say that this is a completely malicious story that does not substantiate the facts of the business in which we are. I want to say this very clearly – it stems from malicious intent. Not only that, it is completely Kind of rubbish,” Sharma claimed on a Bloomberg report that the RBI found that Paytm was sharing data with China-based entities that indirectly hold stake in Paytm Payments Bank.
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