‘Paytm Karo’ Vijay Shekhar Sharma Responds To RBI Order, Assures App Will Work Beyond February 29

News Snapshot:

> Tech Following the Reserve Bank of India's directive to Paytm Payments Bank Ltd. (PBBL), Paytm founder Vijay Shekhar Sharma assured users that the digital payments app will continue operating beyond February 29. However, the RBI's order prohibits PBBL from accepting deposits, offering credit services, or facilitating fund transfers as of March 1, citing "persistent non-compliance" issues. The RBI's action comes in response to persistent non-compliance issues flagged by an external audit. This move has triggered a significant decline in Paytm's shares, with the stock plummeting from ₹761.4 to ₹487.2, wiping out $1.2 billion in market value. However, the Paytm...