Former chairman of SEBI M Damodaran, head of advisory committee set up by One97 Communications said they have been engaging with the group on matters relating to the Advisory Committee's terms of reference.
Rajeev Chandrasekhar said that the RBI order has drawn the attention of fintech players to the fact that the regulatory compliance is not an optional thing.
Paytm said that the company and its associates have continued to provide information, documents, and explanations to the authorities as required by them.
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.
