Paytm founder Vijay Shekhar Sharma assures uninterrupted services post RBI notice

Paytm founder, Vijay Shekhar Sharma, has reassured users that the popular payment app will continue to operate without disruption beyond February 29, following the Reserve Bank of India's (RBI) recent notice. Sharma addressed user concerns on X (formerly Twitter),Vijay Shekhar Sharma said, “To every Paytmer, Your favourite app is working, will keep working beyond 29 February as usual. I with every Paytm team member salute you for your relentless support. For every challenge, there is a solution and we are sincerely committed to serve our nation in full compliance.”

Expressing confidence in India's ongoing digital finance advancement, he affirmed Paytm's role as a key player in global payment innovation and financial inclusion.“India will keep winning global accolades in payment innovation and inclusion in financial services - with PaytmKaro as the biggest champion of it.” He added.

The RBI issued a notice on January 31, restricting Paytm Payments Bank's banking services due to compliance issues without disclosing specific reasons for the stringent action. Despite the regulatory challenges, Paytm has assured users that all services tied to Paytm Payments Bank will smoothly transition to other lenders, ensuring no disruption from March 1.