Multiple employees shared their experiences stating that Paytm forced them to resign without providing formal documentation or severance. One former employee disclosed that the company demanded repayment of their retention and joining bonuses, which were not mentioned in their offer letters. 

Adani Group refutes claims of acquiring stake in Paytm amidst media speculation; Paytm denies engagement in discussions regarding the matter.

Paytm reported a 3% revenue decline for Q4 FY24, totaling Rs 2,267 crore. Despite this, the company saw a 25% YoY increase in full fiscal year (FY24) revenue from operations, reaching Rs 9,978 crore, along with significant improvements in profitability and operational efficiency.

The launch came as One97 Communications Ltd, which runs Paytm, completed the migration of merchant customer accounts from Paytm to other unified payments interface (UPI) handles.

The RBI has instructed PPBL to halt all deposits, credit transactions, and top-ups in customer accounts by March 15, impacting 30 crore wallets and 3 crore bank customers. Additionally, NPCI has sanctioned One97 Communications Limited (OCL) to operate as a Third-Party Application Provider (TPAP) within a multi-bank framework.

In a statutory filing on Friday, One 97 Communications (which owns and operates Paytm) said the company and its associate entity, Paytm Payments Bank Limited (PPBL), have introduced additional measures to strengthen their approach towards independent operations of PPBL.

Known for its versatile payment solutions, e-wallet, and business platforms, Paytm now faces a critical juncture that could shape its future in the dynamic world of digital finance.

OCL stated in a released statement, "Vijay Shekhar Sharma has resigned from the Board of Paytm Payments Bank to enable this transition. PPBL has informed us that they will commence the process of appointing a new Chairman."

The Reserve Bank of India (RBI) has directed the National Payments Corporation of India (NPCI) to review One97 Communications Ltd's (OCL) request to serve as a Third-Party Application Provider (TPAP) for Unified Payments Interface (UPI) transactions on the Paytm app. 

The FIU's investigation has widened the scope of scrutiny to include other payment banks besides Paytm Payments Bank, with a staggering 30,000 such accounts falling under its scanner. Details of these findings have been promptly forwarded to the RBI for further evaluation and necessary actions, sources familiar with the matter disclosed.

RBI has restricted Visa and Mastercard from offering card based B2B payments to clampdown unauthorised digital transactions.

Suresh Ganapathy, an analyst at Macquarie, voiced concerns over Paytm's ability to retain customers and maintain its business model amidst regulatory headwinds. The brokerage highlighted the potential fallout with lending partners, citing indications that some partners are reconsidering their relationship with Paytm, which could significantly dent its lending business revenues.