I know a lot of people from startup community are coming out in support of VSS & Paytm. But they are happily ignoring the news & experts' words of caution. Look at what ex-RBI director has to say on the issue. IT WAS A DISASTER IN MAKING SINCE OCT'23. No one is above the law of land. Startups don't mean you can innovate at the expense of compliance. https://www.cnbctv18.com/finance/paytm-payments-bank-rbi-order-restrictions-disaster-in-the-making-18940381.htm
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 compan...
Just went through RBI's note and developments as per major news houses, so Paytm would no longer be an app which used to be in almost every indian's phone march onwards. such a downfall of a firm who enjoyed their best time post covid.
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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.
Regulatory risk is making me a little uneasy staying at PayTM now. I will obviously stick around to see if I get rewarded for the risk I am taking but I just want to understand how do you all think about regulatory risk?
