Tuesday, July 16, 2024
Outlook.com
Outlook India
Outlook Business

Vijay Shekhar Sharma

While speaking at an event in Japan, Sharma said that ambiguity brings stress to the business.

In the morning trade, the 30-share BSE Sensex benchmark slumped 288.71 points or 0.39 per cent, while NSE Nifty fell 71.55 points to 22,141.15.

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.

Since Friday, the Paytm stock has experienced a rebound, surging by over 21 per cent from Thursday's closing price of Rs 325.

The agency looked into over 50 lakh accounts and wallets but didn't find any breaches of foreign exchange rules.

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.

This direction came after the Indian Highways Management Company Ltd (IHMCL) barred Paytm Payments Bank from issuing fresh FASTags.

As of now, no irregularities have been detected and a case under FEMA will only be registered once any contravention under the said law is found.

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.