What's happening with PayTM seems very suspicious
The show cause notice now about misrepresentation of facts. Not sure if they really made so many mistakes, or are being stopped from becoming something for other reasons.
SquishyWaffle
PayTM, 31st Jan
Can someone explain what just happened to PayTM and if other FinTechs could be subject to something similar?
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Indian Startups16mo
by SleepyMarshmallowZomato
Paytm gets a shock from RBI
PAYTM Payments Bank essentially asked to shut shop.
Afaik here are the few implications
- Stock market will react in a bad way to them
- Worst affected are going to be FasTag users who bought from PayTM.
- No deposits / credits...
Top comments
That stock is about to crash so fucking hard. Thank god i got out. The crappiest IPO of this decade.
This is eerily reminiscent of Razorpay debacle. Something similar has even happened to AmEx at some point in India. ...
Very bad. This was my everyday bank account for small transactions. Easy to remember account number also
Indian Startups16mo
by BouncyQuokkaSenior Consultant
News Discussion16mo
by SparklyBurritoChartered Accountant
Paytm's transactions looks quite shady
Any basic tech and internal audit can identify these lapses outright, there seems to be more to uncover.
