The ED has initiated its inquiry against Paytm Payments Bank after the Reserve Bank of India had written to the agency about possible violations of FEMA rules by individuals and companies.
The agreement was signed in the presence of Saurabh Gaur, Secretary, Information Technology, Electronics and Communications, Government of Andhra Pradesh and Vijay Shekhar Sharma, Founder, Managing Director and CEO of Paytm
The company witnessed a 42 per cent increase in its revenue from operations to Rs 2,062.2 crore in the third quarter of FY23 compared to Rs 1,456.1 crore last year
The number of loans grew 117 per cent y-o-y (Year-on-Year) to 3.7 million for December and 137 per cent y-o-y to 10.5 million cumulative loans for the three months ended December 2022
