Paytm in the dock

If the catchy tune of the ad jingle “Paytm karo” has been sounding more like a cacophony these days, the blame lies squarely on the management of One97 Communications, the parent of Paytm Payments Bank (PPB). In a blogpost on Friday, One97, which holds 49% in PPB, cited a post by its founder and CEO Vijay Shekhar Sharma on X, “To every Paytmer, Your favourite app is working, will keep working beyond 29 February as usual.” Unfortunately for the millions of Paytmers, this might sound like bravado of an individual who seems to have forgotten the basic governance principles while running a business.