The board of Paytm Funds Financial institution is impartial and able to addressing regulatory considerations, the chief govt officer of digital funds agency Paytm, formally often called One97 Communications Ltd, (OCL) stated on Monday.
“I, personally or anybody from OCL, haven’t any reference to the funds financial institution,” Vijay Shekhar Sharma stated at a webinar.

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“There may be an impartial board taking good care of the whole lot and we’ve got full religion of their functionality.”

The Reserve Financial institution of India (RBI) in late January had ordered Paytm Funds Financial institution to cease accepting new deposits in its accounts or digital wallets from March, citing supervisory considerations and protracted non-compliance with guidelines.

Paytm Funds Financial institution’s mother or father is One 97 Communications, popularly often called Paytm for its digital funds app.

One97 owns 49% within the funds financial institution, whereas Sharma holds the remaining 51%.

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In February, following the RBI’s order, Sharma stepped down as non-executive chairman and board member of Paytm Funds Financial institution.


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