Vijay Shekhar Sharma, the maverick founder of Paytm, on Tuesday broke silence on the ongoing crisis after RBI issued stringent curbs against Paytm Payments Bank. Confident of the comeback, Sharma said that the biggest lesson he has learned from the biggest crisis that the fintech major has since its inception is – “Your teammate may not be getting it correct.”
According to a Bloomberg report, this was Sharma’s first public appearance since the crisis began after RBI’s crackdown on January 31. He took part in a fintech event in Japanese capital Tokyo.
Despite the curbs and the impending deadline on the banking operations of Paytm Payments Bank, Sharma still wants to make “Paytm an Asia leader.” He wants to achieve this goal in his “lifetime,” the Bloomberg report said.
Talking about the RBI restrictions, Sharma said that it has brought clarity in terms of company’s growth map. “When you are clear, when you know, then it is the perseverance on the mission that you are in,” the Paytm founder was quoted as saying.
Meanwhile, according to a recent report from the Hindu Business Line, the Reserve Bank of India is likely to revoke the banking license of the troubled Paytm Payments Bank. Additionally, the central bank is anticipated to appoint an administrator to manage the bank’s daily operations. If the RBI proceeds with this decision, it will mark the first instance in the past two decades of a banking licence being revoked in India.