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Vijay Shekhar Sharma of Paytm Says “Biggest Thing I’ve Learned,” Breaking His Silence On RBI Action

<p>In his first public speech after the RBI’s prohibition on Paytm Payments Bank from carrying out certain tasks, Vijay Shekhar Sharma of Paytm discussed the setback and expressed gratitude for the efforts being made by regulators to foster a supportive atmosphere for entrepreneurs.</p>
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<p>According to the Hindustan Times, Paytm founder Vijay Shekhar Sharma expressed confidence that his firm would overcome regulatory difficulties in India this year and make a return.</p>
<p>At a financial technology conference in Tokyo, he noted that the most important lesson he had learned was that often, your counsel and colleague may not be getting it right.</p>
<p>“And it is important for you, yourself, to be taking care of it versus just letting a teammate or an adviser suggest what it should be,” Vijay Shekhar Sharma said, according to the story.</p>
<p>He remarked that Asia has a chance to create a financial system for the next generation and expressed optimism for Paytm. Making Paytm a leader in Asia is what he wants to do in this life.</p>
<p>Regarding Paytm’s plan, he said that it would include entering new Asian countries and forming bank alliances for the Indian market.</p>
<p>Uncertainty, according to Vijay Shekhar Sharma, also causes stress. It is the persistence on the mission that you are on when you are clear and aware.</p>
<p>Vijay Shekhar Sharma, CEO of Paytm, Gives up<br />
The non-executive chairman and board member of Paytm Payments Bank, Vijay Shekhar Sharma, the CEO of Paytm, has resigned. A month has passed since Paytm first encountered difficulties due to regulatory issues facing the industry leader in digital payments.</p>
<p>According to Mr. Sharma, the nomination of independent directors and his departure were calculated moves to support governance frameworks and enable a seamless transition. This action also aims to create Paytm Payments Bank as an independent organization by separating it from its parent firm.</p>
<p>RBI Takes Action Regarding Paytm<br />
The Reserve Bank of India (RBI) has prohibited the PPBL from receiving deposits or credits from any client after March 15 due to the bank’s ongoing substantial supervisory concerns and chronic non-compliance.</p>
<p>51 percent of Paytm Payments Bank is owned by Mr. Sharma. Paytm is now one of India’s top mobile-only banking services because of his transformation.</p>
<p>Vijay Shekhar Sharma of Paytm’s Education<br />
Regarding his schooling, he was born in 1978 in Aligarh, Uttar Pradesh. 1998 saw Sharma graduate from Delhi Technological University with a degree.</p>

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