Fintech major Paytm denies reports on violation of foreign exchange rules

One97 Communications Ltd (OCL), the parent company of fintech major Paytm, denied reports about investigation or violation of foreign exchange rules by the company or its associate Paytm Payments Bank Limited.

“One97 Communications Ltd (OCL) denies reports of investigation or violation of Foreign Exchange rules by the company or its associate Paytm Payments Bank Limited. To address recent misinformation, factual inaccuracies, and speculation, One97 Communications Limited (OCL / Paytm / company) would like to set out the company’s position and directly address rumours in the recent misleading media reports about the company,” it said in an exchange filing.