Software Engineer

Any basic tech and internal audit can identify these lapses outright, there seems to be more to uncover.

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Paytm's transactions looks quite shady

Chartered Accountant

Paytm's transactions looks quite shady- Grapevine

Welcome to Indian Startups's Private Community

I actually believe in a better India from the bottom of my heart where individuals who were not able to crack top tier colleges (IITS/IIMS/BITS) at a young age can still succeed in life on a comparable level, even when it comes to startup culture and raising funds.

Everyone of us has seen their seniors struggle to raise funds just because they are not from prestigious colleges even when they have supplementary skill sets and I personally would like to break that mindset and would like to be PARTIAL towards products if they are built by NON-PRESTIGIOUS college alumni.

I personally want to promote billions of dollars worth of businesses in India with alumni from every hardworking and smart working background and not just for the so called top colleges which only pushes unnecessary competition resulting in nothing but results equivalent to a lucky draw.

I am biased because I believe indians need it to feel secure for starting their own venture one day and everyone should try with confidence that their product will speak more than the founder's name.

Everyone deserves better

I will not use Paytm if VSS quits

Can someone explain what just happened to PayTM and if other FinTechs could be subject to something similar?

PayTM, 31st Jan

VSS need to play some nationalism card to redeem from this situation.

Apt representation of PAYTM

Welcome to Personal Finance's Private Community

What are the stocks you are betting on for next 3 to 5 years and why. Stocks less than 3 years since ipo? Or names you don't hear from big investors.


Please do not add the blue chip stocks or brand stocks just for the sake of Commenting. 


Here are my bets: each of these stocks have >2 lakh investment amount (not final value) 

Inox india : cryogenic monopoly
Suzlon : holding since 4 INR price 
Vasa denticity : online dental monopoly
Ireda (got the ipo in hni category, haven't booked profit even at 400%+)
Bls e services (booked 75% profits from ipo at 250%)
Rate gain (data monopoly) 


Paytm (controversy max but still holding) sunk cost

'lesser known' stocks you are betting on

Head Of Marketing

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.

What's happening with PayTM seems very suspicious

Software Developer

PAYTM Payments Bank essentially asked to shut shop. 

Afaik here are the few implications
1. Stock market will react in a bad way to them
2. Worst affected are going to be FasTag users who bought from PayTM.
3. No deposits / credits allowed in any account. Withdrawal is allowed. 
4. UPI not allowed after Feb

Paytm gets a shock from RBI

That stock is about to crash so fucking hard. Thank god i got out. The crappiest IPO of this decade.

Growth Manager

Product Manager

Paytm is becoming the Enron of India with so many allegations of fraud and compliance issues.

Paytm might've committed forex fraud

- One 97 Communications, Paytm's parent company, received an administrative warning from SEBI on July 15.
- The warning pertains to related-party transactions with Paytm Payments Bank for FY22, lacking audit committee or shareholder approval.
- SEBI noted non-compliances, highlighting transactions exceeding approved limits by Rs 360 crore.
- Paytm asserts compliance with SEBI Listing Regulations but SEBI warns of future enforcement actions for non-compliance.
- Earlier this year, RBI imposed business restrictions on Paytm Payments Bank, affecting its core operations. 

 Source: Moneycontrol, The Arc

Paytm Receives SEBI Warning Over Related-Party Transactions

Journalist

Welcome to Fintech India's Private Community

Will Vijay Shekhar Sharma be able to revive the company in next 6 months or Paytm will lose its existence among upi customers ???

Paytm and it's downfall

The central government is currently scrutinizing foreign direct investment (FDI) from China in Paytm Payments Services Ltd (PPSL), a subsidiary of One97 Communications Ltd, PTI reported citing sources. PPSL, the payment aggregator arm of One97 Communications Ltd, sought a license from the Reserve Bank in November 2020 to operate as a payment aggregator

Government Scrutinizes Chinese Investment in Paytm amid Regulatory Challenges - Insider99

Paytm be like: Oooo bhai, maro mujhe maro.

KYC one to many matching

Associate Product Manager

Was reading a thread where people were saying don't be in shock if Ambani/Reliance starts making move after RBI's action on Paytm. I initially thought it to be a meme. Now I am just curious. 

Is the system really fair to allow such moves by the rivals after penalising them?
Or is the system that rigged to make sure their friends can get all the business to technically get the favors, funds, etc? 
Any thoughts on this? 
Whether is it too cruel and unfair that system just can't come into action to stop such moves otherwise how the startups anyway could rival the innovation that happens in the West if our own system anyway is there to cripple in such scenarios or do you think it's all fair in the name of business (you donot follow regulations, you will have to suffer eventually)? 
PS:- This is just to have a healthy discussion without any biases intended, with no political agenda in mind. I hope you'll keep the discussion healthy and interesting. 
Picture source:- stocktwits(ig)

Is system really fair? Thoughts on JioFin acquiring Paytm Wallets biz.

Product Engineer

Is there anyone from Paytm who knows what's going on ?

RBI vs Paytm discussion post

The Morning Vine 🍇

Welcome to Software Engineers's Private Community

Has anyone noticed weirdly wonky payment request notifications from Paytm? Requests come in very late. Sometimes, I get many duplicate payment requests.

It seems that their notification workers aren't idempotent leading to duplicate notifications. Also, a lot of backpressure could be building up in their brokers too leading to delayed notifications.

Can anyone at Paytm investigate and share more insights?

Paytm Notifications System Flaws

As title says , there are so many narratives going around 

Could you give some insight how the management is working upon it

PayTM employees , could you tell us some insider information

From ashneer to Paytm.

While we are digitizing at rapid scale our auditing isn't.

Blockchain are one use case here.

Dhando Maxxing, does anyone know the details?

Controversial take below:
No doubt that PayTM has been a poster-boy of Indian fintech startups. And Vijay Shekhar Sharma has been an exceptional entrepreneur: building PayTM into a homegrown brand and a multi-billion dollar public company. To that extent, PayTM does deserve a lot of respect from the entire startup community and all of us.

But in current context, they were found to be persistently non-compliant on certain regulations: regulations which are not new and which exist for the protection of consumer interest and overall trust in the ecosystem. That PayTM failed to adhere to them, is squarely on them. That is just oversight or just negligence on their part, and they are facing the consequences of their (in)action.

Why then this show of support for PayTM, who clearly is at fault here? Is it just sympathy for VSS and other PayTM employees who see a lot of their wealth dissipate overnight? Is it just teenage rebellion spirit against the "system" and believing startups are above them? Or is it just accepting that it is okay to cut corners, almost with the guilt of knowing we have erred similarly too?

I get the respect for the company and VSS, I do. But to present them as heroes who have been hard done by regulators, is a grossly misleading narrative.

Paytm's transactions looks quite shady

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