Indian fintech giant Paytm grapples with further challenges as Manju Agarwal, an independent director of its Payments Bank, resigned citing personal commitments. This news comes just days after the Reserve Bank of India (RBI) ordered the bank to wind down most operations due to regulatory violations.
Paytm's response includes forming an advisory committee focused on compliance, aiming to regain the RBI's trust. Agarwal's resignation, however, adds to the uncertainty surrounding the bank's future. Navigating regulatory hurdles and rebuilding compliance infrastructure remain crucial for Paytm, while the broader fintech landscape ponders the delicate balance between innovation and financial stability.
You are not Signed in