Vijay Shekhar Sharma of Paytm shares insights on RBI action for the first time: 'I've Learned...'

PTC News Desk: In his first public appearance since the Reserve Bank of India (RBI) ordered Paytm Payments Bank to halt certain activities, Vijay Shekhar Sharma, the founder of Paytm, expressed confidence in his company's ability to overcome regulatory setbacks and make a comeback in India.

Speaking at a financial technology conference in Tokyo, Sharma highlighted the importance of personal accountability in navigating challenges, stating, “The biggest thing that I’ve learned is that many times your teammate and adviser may not be getting it correct." He emphasized the necessity for individuals to take proactive measures rather than relying solely on advice from others.

Sharma, who resigned from the board of Paytm Payments Bank in February following the RBI's directive prohibiting the bank from accepting new deposits in customer accounts or wallets, acknowledged the regulatory environment and expressed gratitude for the efforts made to foster a healthy ecosystem for startups in India. Despite the setbacks, he remained optimistic about the company's prospects, noting the rapid growth and significance it has attained.

Also Read: Seized cargo from ship bound for Pakistan may serve military objectives: DRDO report

Also Read: Bank employees likely to shift to five-day work week before model code implementation

Addressing the future trajectory of Paytm, Sharma outlined strategic initiatives such as forging new bank partnerships in the Indian market and expanding into other Asian countries. He underscored the importance of clarity and perseverance in the face of ambiguity, stating, “Ambiguity brings stress. When you are clear, when you know, then it is the perseverance on the mission that you are in."

Looking ahead, Sharma articulated his vision for Paytm to become a leader in the Asian financial landscape, emphasizing the opportunity to build a robust financial system for the next generation. He expressed eagerness to tackle new challenges and seize opportunities, affirming his commitment to advancing the company's mission.

Also Read: Multi-state anti-terror raids conducted in Bengaluru radicalisation case

Also Read: Indian man killed in Lebanon missile attack on Israel; 2 injured: Report

(Inputs from agencies)

-

Join Whatsapp Channel