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News on Medial
Paytm setback: Vijay Shekhar Sharma says ‘Indian startup dream must overcome every situation collectively’
Economic Times
·
1y ago
Medial
Paytm founder Vijay Shekhar Sharma sent a message to a startup founders WhatsApp group, urging them to continue building despite setbacks. The message comes after Paytm Payments Bank was asked by the Reserve Bank of India to halt most of its banking services by end-February. Sharma emphasized the need for a wider conversation about the situation and expressed his belief that the Indian startup dream can overcome any challenge collectively. This is the first message he personally gave to the startup community following the RBI order.
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India Must Settle for Being the AI Use Case Capital, Says Vijay Shekhar Sharma – Outlook Business
OutlookIndia
·
28d ago
Medial
India must now settle for becoming the “use case capital” of AI rather than its creator, as per Paytm founder Vijay Shekhar Sharma. India’s ambition to build foundational AI may no longer be realistic, he added, pointing to the high entry costs and lack of global infrastructure.
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Paytm crisis: Vijay Shekhar Sharma says "Indian startup dream must overcome every situation collectively"
Money Control
·
1y ago
Medial
Paytm founder and CEO, Vijay Shekhar Sharma, expressed his gratitude for the support received amidst the regulatory crisis faced by Paytm Payments Bank. The Reserve Bank of India recently imposed significant restrictions on the bank due to non-compliance issues. Sharma highlighted the need for unity and collective action in overcoming challenges, stating that the Indian startup dream should prevail. The restrictions prohibit further deposits, credit transactions, or top-ups in customer accounts after February 29, 2024. Paytm is taking steps to comply with the RBI's directions and address their concerns.
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Paytm CEO Vijay Shekhar Sharma gets scam texts from 'Vijay Shekhar Sharma', shares pics
Inshorts
·
2m ago
Medial
Paytm CEO Vijay Shekhar Sharma shared pictures of text messages he got from a scammer who was posing as 'Vijay Shekhar Sharma', saying, "Impersonating myself to me." In the messages, the scammer asked Vijay if he was in office and asked him to send a file to finance department. "Vijay speaking to Vijay. Madness of multiverse," an X user said.
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Want to make Paytm an Asia leader — Sharma after RBI action on payments bank
Livemint
·
1y ago
Medial
Paytm founder, Vijay Shekhar Sharma, expressed confidence that the digital payments giant will overcome regulatory setbacks in India this year. The Reserve Bank of India (RBI) recently placed severe restrictions on Paytm Payments Bank due to issues related to accounting and supervisory problems. Sharma resigned from the banking affiliate's board but continues to lead Paytm. He is focused on forging new bank partnerships and expanding into other Asian markets. Additionally, Paytm Payments Bank was fined ₹5.49 crore by the Financial Intelligence Unit for failure to comply with anti-money laundering regulations.
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‘Should have done better … now learnt the lesson,’ says Paytm founder
Economic Times
·
1y ago
Medial
Paytm Founder and CEO, Vijay Shekhar Sharma, admitted that the company could have fulfilled its responsibilities in a better manner, in response to the Reserve Bank of India's order for Paytm Payments Bank to halt its banking services. Sharma compared the situation to a daughter on her way to an important test, but met with an accident and is now in intensive care. Paytm's parent company, One 97 Communications, reported a threefold increase in net loss and a decline in operating revenue due to regulatory action against the payments bank. Paytm Payments Bank's wallets business came to a halt as a result of the central bank's action. The company's stock has also taken a hit since the order.
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Want To Make Paytm A Market Leader In Asia: Vijay Shekhar Sharma
Inc42
·
1y ago
Medial
Paytm founder Vijay Shekhar Sharma is confident in the company's ability to overcome recent regulatory hurdles and make a strong comeback. Despite the Reserve Bank of India's clampdown on Paytm Payments Bank, Sharma expressed his desire to make Paytm a market leader in Asia. He also emphasized the importance of taking personal responsibility for decision-making and acknowledged the value of regulatory oversight. Paytm shares have plummeted by 47% since January 31 and remain subject to volatility and selling pressure. Concerns have been raised about the impact on the company's financial performance in the coming years.
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Mindset, not size, limits small companies; AI is changing that: Paytm's Vijay Shekhar Sharma
YourStory
·
28d ago
Medial
Paytm CEO Vijay Shekhar Sharma, speaking at Shiprocket Shivir 2025, highlighted how artificial intelligence (AI) is empowering small businesses in India by enhancing their capabilities, traditionally limited by mindset rather than resources. AI is helping micro, small, and medium enterprises (MSMEs) overcome barriers to insights and operational efficiency, enabling them to scale faster. Sharma emphasized that AI acts like a business partner or CFO, bridging knowledge gaps and encouraging small businesses to think bigger and more expansively.
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Paytm CEO in talks with RBI on regulatory concerns
VCCircle
·
1y ago
Medial
Paytm CEO Vijay Shekhar Sharma has held talks with the Reserve Bank of India (RBI) to discuss regulatory concerns, following the recent curbs imposed on its banking affiliate. Paytm Payments Bank was instructed by the central bank to stop accepting new deposits, leading to a loss of $2.5 billion for Paytm shareholders. The company is seeking clarity from the RBI regarding the transfer of licenses for its wallets business and Fastag service. Analysts expect Paytm to overcome the regulatory restrictions and successfully execute operational changes.
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Paytm Payments Bank board is independent, Paytm CEO Sharma says
Economic Times
·
1y ago
Medial
Paytm CEO Vijay Shekhar Sharma has stated that the board of Paytm Payments Bank is independent and capable of addressing regulatory concerns. He clarified that he and his company, One97 Communications, have no connection with the bank. The Reserve Bank of India (RBI) had recently ordered Paytm Payments Bank to stop accepting new deposits due to supervisory concerns and non-compliance with rules. Paytm Payments Bank is a subsidiary of One97 Communications, with Sharma holding a 51% stake. In response to the RBI's order, Sharma stepped down as non-executive chairman and board member of the bank.
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Paytm Senior VP Praveen Sharma quits to pursue other opportunities
Inshorts
·
1y ago
Medial
Paytm Senior Vice President Praveen Sharma has quit the fintech startup to pursue other opportunities, Paytm said in an exchange filing. Praveen, who tendered his resignation to CEO Vijay Shekhar Sharma on Saturday, will work with Paytm till Sunday (March 31). "I had a wonderful stint here," said Praveen, who has worked at Paytm since September 2019.
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