Paytm CEO Sharma meets FM amid regulatory concerns: Reports

Paytm Sharma meets FM: In a pivotal development for Paytm, CEO Vijay Shekhar Sharma held a crucial meeting with Finance Minister Nirmala Sitharaman, sources told Reuters on Tuesday. This meeting comes in the aftermath of the Reserve Bank of India's (RBI) directive instructing Paytm Payments Bank to halt new deposits, causing a notable downturn in the company's share prices. 

According to Reuters, Sharma, accompanied by key Paytm officials, engaged in discussions with Sitharaman to address pressing regulatory concerns and compliance issues.

The RBI's decision, announced last Wednesday, cited supervisory concerns regulatory issues, and persistent non-compliance with regulations. The consistent non-compliance prompted RBI to clamp down on Paytm. 

Earlier, the Revenue Secretary said that ED will may open up investigations against Paytm if new violations of money laundering are found against the Paytm.