RBI Governor banned Paytm transaction all over India

   

RBI governor Shaktikant Das repeatedly said, discussed case about Paytm Bank Payment system to stop the Banking transaction all over India. The Paytm payment and money transfer company violated rules and regulations of RBI.  

    CEO of Paytm Vijay Shekhar Sharma written apology letter to RBI governor. The Paytm company established in 2010, company head office is in Noida, Uttarpradesh. The Paytm initial support and investor are SoftBank, AGH Holding, Berkshire Hathaway, Ant Financial etc. 

    The  Paytm company begined intially work of DTH recharge services, TV DTH recharge is made using Paytm at very much beginning. In 2014 company launched Paytm wallet payment system, during wallet launching the Indian Railways and Uber both firm were added in online payment in booking tickets in railways and seats in Uber, even Paytm become so famous, it started working for e-commerce online transaction and in bus ticketing.

    In 2015 Paytm increased its business work in school and College fees transaction, even in electricity bill, commercial gas cylinders. In 2016 Paytm increased money in Media Tek, In 2017 in SoftBank invested , again in Berkshire Hathaway invested in Paytm $350  million. Thus Paytm crossed 10 crores users and become no.1 in country for money transaction company. 

    Paytm also collaboration with Alibaba company. Paytm covered almost all Banks in India, for financial transactions of money to transfer to any bank without any delay, realtime transaction seen in Paytm payment system. In 2019 during Covid every e- commerce website using Paytm money transaction system. 

    In 2021 18000 crores of valuation safe transaction done by Paytm. Having this much knowledge about finance, but recently violated rules in 2024, at present Paytm is banned by RBI, unless to follow RBI rules ban order will continue said by Governor of RBI.