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Paytm learnt many lessons in 3 months, worst behind us: CEO Sharma
Money Control
·
1y ago
Medial
Paytm CEO Vijay Shekhar Sharma on Wednesday told investors that the company learnt a lot of lessons and showed resilience in the last three months. "The worst is behind us," he said, adding that the attention to governance remains a prime focus. Earlier this year, RBI imposed restrictions on Paytm Payments Bank over regulatory concerns.
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RBI’s Clampdown On PPBL Not The Biggest Setback Faced By Paytm: Vijay Shekhar Sharma
Inc42
·
1y ago
Medial
Paytm founder Vijay Shekhar Sharma has acknowledged the difficulties that the company faced during its early years, including delays in finalizing agreements and investors backing out last minute during fundraising efforts in 2013-14. Regarding the regulatory action taken by the RBI on Paytm Payments Bank, Sharma admitted the mistakes made and stated that lessons have been learned. However, he remains optimistic about the company's future and has set a vision to turn Paytm into a $100 billion company.
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Paytm sees no impact of lowering of UPI incentives on its path to profitability
Economic Times
·
11m ago
Medial
Paytm, the fintech firm behind One 97 Communications, does not expect any impact from the lower incentives allocated by the government to promote small ticket digital transactions. The company's CEO, Vijay Shekhar Sharma, remains committed to achieving profitability this fiscal year despite the reduced incentives. Paytm recently launched a Card NFC Soundbox machine that combines card-based payments with QR code payments, catering to a niche segment. The company reported a widening loss in the previous quarter, but Sharma expressed optimism about achieving profitability in the near future. Paytm also plans to introduce dynamic QR code technology for different payments.
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Paytm’s new target will be offering small instant credit: Vijay Shekhar Sharma
Economic Times
·
1y ago
Medial
During Paytm's 23rd Annual General Meeting (AGM), CEO Vijay Shekhar Sharma announced the company's next focus: "small credit available instantly through the mobile phone." Sharma also highlighted the achievement of operating profitability in Fiscal 2023, nine months ahead of their target. The company's next goal is to become free cash flow positive and expand its distribution. Paytm aims to contribute to the availability of instant small credit through mobile devices.
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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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Hope Budget supports digitisation, startups: Paytm CEO Sharma
Twitter
·
1y ago
Medial
Speaking on the upcoming Union Budget, Paytm CEO Vijay Shekhar Sharma said he hopes it supports digitisation and startups. "Many small businessmen and small entrepreneurs of our country have promoted digitisation from their side, so I want the government to support them, give them some incentives or in a way bring some advantages for them," he said.
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Paytm’s Vijay Shekhar Sharma cheers Deepinder Goyal as camaraderie adds fizz to Zomato’s 16th anniversary ad
Livemint
·
1y ago
Medial
Zomato's 16th anniversary is making headlines as Paytm CEO Vijay Shekhar Sharma shared the celebration ad released by Zomato's CEO Deepinder Goyal. Sharma congratulated Goyal and the executive team while expressing admiration for the advertisement. As a gesture of gratitude to its users, Zomato is offering an exclusive Zomato Gold membership for ₹30 for six months. The advertisement features key team members such as Akriti, Akshant, Rakesh, and Vipin. The online food delivery market in India is projected to reach $43.78 billion by 2024, according to Statista.
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Paytm CEO Vijay Shekhar Sharma meets FM Sitharaman
Inshorts
·
1y ago
Medial
Paytm CEO Vijay Shekhar Sharma met Finance Minister Nirmala Sitharaman on Tuesday, ANI reported quoting sources. They reportedly discussed the recent curbs imposed by the Reserve Bank of India (RBI) on Paytm Payments Bank. It was earlier reported that Sharma and other Paytm executives met the RBI officials on Monday and discussed a roadmap to address the regulatory concerns.
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Paytm CEO Vijay Shekhar Sharma settles ESOP case with SEBI
Inshorts
·
2m ago
Medial
Paytm and its CEO, Vijay Shekhar Sharma, have settled an employee stock options (ESOPs) violations case with the Securities and Exchange Board of India (SEBI), the markets regulator said on Thursday. As part of settlement, Sharma has been prohibited from accepting fresh ESOPs from any listed company for three years, while Paytm and Sharma each paid ₹11.1 million, SEBI said.
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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 CEO asks govt to bring payment devices under PLI scheme
Inshorts
·
1y ago
Medial
On Monday, Paytm CEO Vijay Shekhar Sharma called on the government to include payment devices in the Production Linked Incentive (PLI) Scheme. Sharma highlighted that Paytm soundboxes are entirely manufactured in India, yet they face import duties, creating an uneven playing field. He emphasized the need for India to focus on manufacturing to boost job creation, moving away from a service-centric approach.
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