Paytm chief meets RBI for clarity on transferring wallet, FASTag biz

Paytm chief executive Vijay Shekhar Sharma, has held talks with the Reserve Bank of India (RBI) to discuss regulatory concerns and know if the company can transfer its wallet business and electronic toll collection system FASTag, said two sources on Tuesday, days after the regulator imposed curbs on the fintech giant’s banking affiliate.

The banking regulator told Paytm Payments Bank last Wednesday to stop accepting new deposits in its accounts and digital wallets from March 1, citing supervisory concerns and non-compliance with rules.