Nifty22,808.5095.41
Sensex73,582.53262.98
Trent3,785.00234.41
Gold (MCX) (Rs/10g.)149,778.0098.00
USD/INR92.85-0.26
Market Watch

Vijay Shekhar Sharma

Chairman & MD, One97 Communications Ltd

Birth DetailsJuly 8, 1978 | Aligarh, India

NationalityIndian

LeagueEntrepreneur

EducationB.E., Delhi College of Engineering

Net Worth$2.4 billion (as of August 10, 2020)

Vijay Shekhar Sharma's Assets

One97 Communications Ltd

Vijay Shekhar Sharma's Journey so far...

Owing to his proficiency in academics, Vijay Shekhar Sharma completed high school at the age of 14. And the following year, in 1994, secured admission in engineering college
But things changed when he went to college. English proved to be a hurdle, and he ended up spending most of his time in the computer room. He created his first company -- XS Communications -- when he was still in college. The company developed content management systems
By 19, he was done with college and started working in a few companies
He then decided to start his own company, and in the year 2000, One97 Communications Ltd. was born
He made his big move into the world of digital payments with the launch of the mobile wallet service Paytm in 2011. While being created, he had put $2 million of his own money into the venture
PM Modi’s demonetisation drive of 2016, which rendered almost 80% of the country’s physical currency worthless overnight, proved to be a boon for Sharma. The severe cash crunch led people to adopt digital methods of making and receiving payments, and Paytm was at the forefront
In 2017, Sharma launched the e-commerce branch of his company -- Paytm Mall
In 2018, Forbes named Vijay, then aged 39 and worth $1.7 billion, India’s youngest billionaire
Furthering its list of notable investors, renowned billionaire Warren Buffet made a $300 million investment in Sharma’s business in 2018
To offer financial services to the sectors that are unserved or underserved by the current banking system, he launched a digital bank called Paytm Payments Bank in 2019
One97 is now valued at around $16 billion after the latest round of funding and today, Paytm is a household name which has made payments and banking easier for millions of users

Before you go...

Paytm is actually short for ‘pay through mobile’
He had to work multiple jobs, which included some petty ones, to repay the loan and to make ends meet at the time
Sharma’s an English music buff, and Bono, Chris Martin and Jim Morrison are some of his favourite artists
In earlier interviews, he has acknowledged the role that rock music has played in improving his English

Last Updated: 12/02/2021

Vijay Shekhar Sharma News

Digital payments, mobile economy have significant room for expansion; no slowdown in transaction growth: Paytm CEO
India's digital economy is set for major growth. Technological innovation and increasing consumer trust will drive expansion. Artificial intelligence will accelerate this progress. Digital payments and mobile transactions are expected to see a significant increase. Indian consumers are rewarding strong products and innovation. The nation's economy remains resilient due to domestic consumption.
Paytm’s cap table turns Indian: What changes now?
Domestic investors now own 50.3% of the digital payment firm's equity, marking a transition to majority Indian ownership and control. This shift is driven by increased participation from domestic institutional investors (DIIs).
Paytm ups focus on consumer payments as profits stabilise, revenues grow
Addressing stock market analysts a day after the company declared its December quarter results, Paytm chief executive Vijay Shekhar Sharma said the company is working on building consumer products. The management is also working on making its stockbroking entity, Paytm Money, among the country’s top five brokers in the next three years.
Paytm Q3FY26 net profit at Rs 225 crore, revenue up 20% to Rs 2,194 crore
Digital payments major Paytm reported a net profit of Rs 225 crore in the third quarter of the current fiscal, swinging from a loss of Rs 208 crore in the year-ago period. The Noida-headquartered payments firm also saw its operating revenue jump 20% to Rs 2,194 crore, from Rs 1,828 crore a year back.
Paytm makes second Esop grant in a month, allots one lakh shares
Paytm approved over 5.15 lakh employee stock options and allotted just over one lakh shares, marking its second Esop exercise this month. The options are valued at around Rs 60 crore, based on Paytm’s last closing price of Rs 1,168.7 on the BSE. Esops help retain staff, though they cause minor shareholder dilution.
Paytm allots 1.89 lakh shares under Esop plan to employees
Paytm has allotted over 1.88 lakh equity shares to employees upon exercising stock options under its Esop 2019 scheme. The company also approved a fresh grant of 1.23 lakh stock options. This move aims to retain and incentivise employees, despite past regulatory scrutiny regarding Esops.
Eternal CEO Deepinder Goyal enters new arena of debate: Capitalism, class divide and gig economy
Amid backlash over gig worker strikes, Eternal CEO Deepinder Goyal sparked a wider debate by defending capitalism and the gig economy on social media. He argued that wealth must be created before it can be fairly shared, framing capitalism as the engine that drives value and growth. His remarks on class divide and labour drew strong reactions, winning support from some founders and investors while attracting criticism from workers’ advocates and politicians.
Wealth destroyer to multibagger! A Vijay Shekhar Sharma plot twist for Paytm that small investors are ignoring
Paytm is making a strong comeback after facing regulatory challenges. The company is now focusing on its core payment business and expanding financial services. New AI-driven products are also being developed. This strategic shift has led to improved financial performance and has attracted significant interest from domestic institutions. Retail investors are overlooking this turnaround.
Paytm is looking at AI as future revenue line item: CEO Vijay Shekhar Sharma
One 97 Communications, which runs the digital payments major Paytm, has reported a steady uptick in business with operating revenue rising 24% to Rs 2,061 crore, up from Rs 1,659 crore a year back. Founder Vijay Shekhar Sharma pointed out that an increase in payments via credit instruments, coupled with a conversion to EMIs at merchant outlets, were the two major factors driving the payment processing margin upwards.
Vijay Shekhar Sharma showcases Made-in-India Paytm AI soundbox to Piyush Goyal
Paytm Founder Vijay Shekhar Sharma presented the Made-in-India Paytm AI Soundbox to Union Minister Piyush Goyal, emphasizing the company's commitment to Atmanirbhar Bharat and making AI accessible for Indian shopkeepers. This innovative device transforms payment soundboxes into smart business partners, marking a significant step towards inclusive technology for millions of small and micro businesses.
Paytm brings entities under direct ownership to simplify its structure
Per the terms of the restructuring, Paytm will acquire stakes from its founder, Vijay Shekhar Sharma, and his entities in subsidiaries, including Paytm Financial Services Ltd, Paytm Insuretech, Paytm Emerging Tech, and Paytm Life Insurance. Paytm aims to complete all acquisitions and internal restructurings by January 31, 2026, subject to the execution of definitive agreements and necessary approvals.
Paytm parent restructures to bring financial, tech entities under direct ownership
Paytm's parent company, One 97 Communications, is undergoing a major internal restructuring. The company will bring several financial and technology subsidiaries under direct ownership. This move aims to simplify the group's structure and boost operational efficiency. The transactions are valued independently and executed at fair market value. This restructuring will strengthen governance and improve agility without altering ultimate ownership.
Vijay Shekhar Sharma says Paytm AI Soundbox will make technology and AI more inclusive for millions of Merchants
As a homegrown fintech pioneer, Paytm is leading the way in making India AI-enabled and empowering small businesses with intelligence.
Anthropic's India push; Sebi ups broker scrutiny
Happy Wednesday! Anthropic CEO Dario Amodei details the company's plans for India. This and more in today's ETtech Morning Dispatch.
Paytm planning brand makeover to reflect its bet on AI: Vijay Shekhar Sharma
Speaking at the Global Fintech Fest in Mumbai on Tuesday, Sharma said that the brand name is closely linked with the fintech ecosystem, but his next big bet is on AI.
Paytm founder Sharma urges regulatory, tech reforms to speed up the IPO process
CBDC is a digital form of a country’s official currency, issued and regulated by its central bank. Unlike cryptocurrencies, it is backed by the government and holds the same value as physical cash. Its use in financial processes such as IPO settlements could help reduce transaction time and enable real-time fund transfers.
Paytm poised for strong growth as Jefferies retains "buy" rating, raises price target to Rs 1,420
Jefferies has reiterated its "Buy" rating on Paytm, raising the price target to Rs 1,420—a 21% upside from its current price of Rs 1,197. The brokerage expressed confidence in Paytm’s strong merchant network and lending performance, citing emerging opportunities in Postpaid-on-UPI and wealth management as key future growth drivers.
Paytm founder Vijay Shekhar Sharma, worth Rs 12000 crore, reveals how he went from school topper to ‘backbencher’ in college
Vijay Shekhar Sharma, the founder of Paytm, shared his inspiring journey on The Great Indian Kapil Show, highlighting his early struggles with the English language during college. Despite being a bright student, he faced humiliation and academic setbacks due to his inability to communicate effectively in English.
AI scanning chats? WhatsApp responds after Paytm founder Vijay Shekhar Sharma's warning
WhatsApp's latest update brings AI integration, raising privacy concerns. Vijay Shekhar Sharma alerts users about potential AI access to chats. Users can adjust settings to block this. New features include scheduled group calls and interactive tools. Meta plans monetization features like paid subscriptions and ads. These changes build on Meta's AI push within WhatsApp.
Paytm cuts headcount by 10% in FY25
In FY24, the company reported an average of 43,960 active on-roll employees, inclusive of all subsidiaries. In FY25, the headcount decreased to 39,368 on-roll employees. Out of the 39,368 employees, 32,614 employees were engaged in sales. The company's employee costs (excluding its employee stock options expense) decreased 21% year on year by about Rs 651 crore to Rs 2,473 crore in the fiscal year ended March 2025, from Rs 3,124 crore in FY24.
We are AI-first: Paytm CEO outlines vision for tech-driven future of payments
Paytm founder and CEO Vijay Shekhar Sharma emphasised that company's focus on core payment operations and the continued strengthening of its business fundamentals have set the company on a path toward sustainable growth and profitability.
'As desi as Tata and Maruti': Paytm is 100% Indian after Jack Ma's Ant Fin exits fintech
Paytm is now fully Indian-owned as Antfin completed its exit, selling its remaining stake. This shift follows exits by other major early backers like Alibaba and SoftBank. The company recently achieved its first profitable quarter, driven by revenue growth and new user features, marking a significant transition towards domestic control and innovation.
A decade after Jack Ma’s bet, Paytm’s China ties end
The exits mark the end of a high-profile Japanese-Chinese investor chapter in Paytm’s journey, from becoming India’s most valued startup at $15 bn, to a lacklustre IPO in 2021, and a volatile public market performance thereafter.
Vijay Shekhar Sharma’s resilience fuels the rise of India’s merchant payments champion
EBITDA and PAT turned profitable at ₹72 Cr (margin of 4%) and ₹123 Cr respectively.
Paytm shares climb over 3% as company swings to Rs 122 crore profit from YoY loss
Paytm shares: Paytm's parent company, One 97 Communications, witnessed a 3.5% surge in shares, reaching a 52-week high after reporting a consolidated net profit of Rs 122.5 crore for Q1FY26, a significant turnaround from the previous year's loss. Revenue from operations also increased by 28% YoY to Rs 1,917 crore, driven by growth in subscription-based merchants and financial services distribution.
Danger ahead? Paytm boss Vijay Shekhar Sharma shares AI-powered vedic astrology warning on air travel
Amid rising aviation concerns, Paytm CEO Vijay Shekhar Sharma consulted AI-powered Vedic astrology, revealing a "Danger Zone" for air travel until November 2025. The analysis, shared on X, cites planetary alignments like Rahu in Pisces and Saturn retrograde as indicators of heightened risk, potentially leading to technical failures and miscommunication.
“NYC becomes Gurgaon”: Social media reacts as heavy rains floods New York
Heavy rains caused significant flooding in New York City, drawing comparisons to monsoon flooding in Gurgaon. Paytm founder Vijay Shekhar Sharma shared a video of submerged cars, playfully noting the resemblance. Social media users joined in with humorous comments, highlighting the rapid waterlogging issues in Gurgaon and drawing parallels between the two cities.
Tesla's India Debut: From Paytm's Vijay Shekhar Sharma to GOQii's Vishal Gondal, the entrepreneurs who dreamt of this day
Tesla makes its long-awaited India debut with its first showroom in Mumbai, fulfilling the dream of early backers like Paytm’s Vijay Shekhar Sharma and GOQii’s Vishal Gondal, who booked their Model 3s in 2016. While manufacturing isn't on the cards yet, Tesla aims to test the market amid renewed government support for EV imports.
Paytm to become an AI-first company: Founder Vijay Shekhar Sharma
Sharma said that as most jobs done by humans will be done by AI, the focus should be on building core products. He added that the goal for Paytm is to go beyond a fintech and become an AI-first company.
Paytm karo or think twice: From 164% surge to 9% H1CY25 slide, will it be a comeback story in H2?
After a remarkable 164% surge, Paytm shares faced a 9% dip in H1CY25, prompting varied expert opinions on its future. Despite regulatory hurdles potentially behind it, challenges persist alongside opportunities. Analysts highlight Paytm's strong merchant base, financial services leverage, and scalable tech, projecting GMV and revenue growth with a potential MTU base rebound.
Paytm founders settle disclosure violation case with Sebi for Rs 2.79 crore
Paytm's founder, Vijay Shekhar Sharma, his brother Ajay, and One 97 Communications settled a disclosure violation case with Sebi, paying ₹2.79 crore. Vijay and Ajay will forgo ESOPs, with Vijay refraining from accepting new ESOPs from listed companies for three years. Ajay will also disgorge ₹35 lakh to Sebi as part of the settlement.
Paytm, founder Vijay Shekhar Sharma settle stock options case with Sebi
Indian payments firm Paytm and its founder and CEO Vijay Shekhar Sharma have settled an employee stock options violations case with the country's markets regulator, the Securities and Exchange Board of India said on Thursday.
Paytm parent One 97 Communications settles Esop case with Sebi
Paytm and founder Vijay Shekhar Sharma settled an employee stock options violation case with SEBI. Sharma is barred from receiving new Esops from any listed company for three years as part of the settlement.
Paytm expects to turn profitable from next quarter: Vijay Shekhar Sharma
Paytm-owner One97 Communications expects to turn profitable next quarter. Despite a Rs 545 crore loss in Q4, excluding exceptional ESOP-related costs, the loss was only Rs 23 crore. Operational profit reached Rs 81 crore. Annual losses and revenue declined significantly year-on-year in FY25.
“Beneficial for the world”—Ankur Warikoo, Vijay Shekhar Sharma laud India’s AI talent
Students are going all out and doing things for themselves in this domain. All of that will trickle back into the economy,” says serial entrepreneur Ankur Warikoo.
Funding is no longer a major issue for startups in India: Paytm’s Vijay Shekhar Sharma
Paytm's Vijay Shekhar Sharma believes funding is no longer a major hurdle for Indian startups, highlighting the ecosystem's recovery and improved talent pool. He emphasised the importance of AI and urged startups to focus on advanced sectors like semiconductors and robotics. Sharma envisions India creating a globally impactful AI product with a unique differentiating factor.
Paytm shares drop 2% after Vijay Shekhar Sharma forfeits 2.1 crore shares
Shares of Paytm operator One97 Communications saw a fell over 2 percent to the intraday low of Rs 846.3 apiece around 10:15 a.m. today, before stabilising to trade near 1.5 percent. The scrip was trading 1.68 percent lower as of 2:18 p.m., compared with a 1.85 percent rise in the benchmark Sensex.
Paytm founder Vijay Shekhar Sharma, his brother and One 97 Communications to pay Rs 2.79 crore to settle case with Sebi
Paytm's Vijay Shekhar Sharma, his brother, and One 97 Communications will pay Rs 2.79 crore to settle with Sebi over alleged misrepresentation during the 2021 IPO regarding shareholder classification. Vijay will also forgo Esops worth Rs 1,812 crore and not accept new ones for three years.
Paytm founder Vijay Shekar Sharma foregoes 21 million employee stock options after regulatory scrutiny
Paytm's CEO, Vijay Shekhar Sharma, has relinquished 21 million employee stock options following regulatory scrutiny. SEBI had issued show-cause notices regarding the grant of these ESOPs, citing violations of rules concerning share-based employee benefits. The regulator determined that Sharma's initial stake violated regulations, leading to the transfer of shares to become eligible.
Paytm founder Vijay Shekhar Sharma forfeits shares worth Rs 492 crore after Sebi action
This follows the market regulator Sebi issuing show cause notices to the company for flouting rules on the granting of Esops. Sebi had also issued notices to the other directors on the company’s board for endorsing Sharma’s stand.
Was extremely unhappy after exiting Flipkart as it was unplanned: Sachin Bansal
In 2018, Walmart acquired a majority stake in homegrown ecommerce company Flipkart. Bansal, along with his cofounder Binny Bansal, sold their stakes in Flipkart to the US retailer.
Perplexity plans to make pro-version of AI platform free for Indian students
Perplexity Cofounder and CEO Aravind Srinivas said that Perplexity has set a goal that no student should pay for its Pro plan but it is difficult to go for mass market rollout.
Paytm partners with startup Perplexity to integrate AI-powered search
With Perplexity's AI capabilities, Paytm users will be able to "ask everyday questions, explore topics in their local language, and make informed financial decisions," the company said.
Paytm on track to become profitable next quarter: Vijay Shekhar Sharma
Speaking at the ET NOW Global Business Summit on Sunday, Paytm founder Vijay Shekhar Sharma said the company is on track to deliver profit after tax in the next quarter, in keeping with the Paytm management’s guidance earlier.
Paytm aims for profitability in next quarter amid digital transactions growth
Paytm is committed to becoming profitable in the next quarter. The company has a strong focus on digital payments and is recalibrating its credit activities. Regulatory compliance improvements are underway. The goal is to generate profits and continue growing its user base while benefiting from government initiatives and the National Digital Retail initiative.
TechEagle to invest Rs 100 crore in UAVs, launches first Responder Drone
TechEagle is set to invest Rs 100 crore over the next three years to meet the rising demand for drones in public safety. The company launched an autonomous UAV designed for disaster relief and law enforcement, showcasing advanced domestic engineering and securing a contract with the Himachal government.
Paytm boss Vijay Shekhar Sharma makes a new 'bh-ai' out of OpenAI founder Sam Altman!
During an event in India, Paytm CEO Vijay Shekhar Sharma humorously referred to OpenAI CEO Sam Altman as 'Sam bh-ai,' blending cultural context with technology. Altman highlighted India's rapid AI growth, emphasizing its strategic importance and substantial increase in OpenAI's user base within the country.
'It is so bad': Frustrated with iPhone 16, Paytm's Vijay Shekhar Sharma plans to switch to Google Pixel
Paytm CEO Vijay Shekhar Sharma criticized the camera quality of the iPhone 16 on social media and hinted at switching to Google's Pixel. Many users agreed, sharing similar experiences. Some past iPhone users have already switched to Pixel, praising its performance. Users suggested Apple needs improvements to maintain customer satisfaction.
Paytm Q3 Results: Cons loss narrows to Rs 208 crore; revenue slides 36% YoY
Paytm Q3 Results: Paytm, operated by One97 Communications, reported a narrowed consolidated loss of Rs 208.3 crore in the December quarter, compared to Rs 219.8 crore in the same quarter last year. Despite a 36% YoY drop in revenue to Rs 1,828 crore, the company's revenue increased 10% QoQ due to growth in GMV, subscription, and financial services distribution revenues.
AI tech to replace humans workflow, says Paytm founder
Paytm founder and CEO Vijay Shekhar Sharma said that technology companies will become stronger with the adoption of tech. He also added, during his session on Digital Transformation, that anything that is to be accomplished physically or mentally will be replaced by AI like car driving and writing code.
Ola's Sidharth Shakdher joins Paytm as business head
Sidharth Shakdher, former CBO at Ola Mobility, has joined Paytm as business head of a business unit. In his new role, Shakdher will collaborate with Paytm's founder and CEO to enhance the company's growth and focus on financial success.
Paytm gets NPCI nod to onboard users on UPI, shares up 11%
In its letter to Paytm founder and chief executive Vijay Shekhar Sharma on Tuesday, NPCI that manages the UPI platform said upon examination of the company’s application received on August 1, it has allowed Paytm to onboard new users for the payment service. Paytm attached the letter to its late-night regulatory filing on Tuesday.
Paytm CEO Vijay Shekhar Sharma deletes post about late Ratan Tata after backlash
Tata, the former Tata Group chairman, passed away late on Wednesday aged 86. Veterans and top businessmen in the technology industry paid tributes and expressed condolences to the astute businessman.
Paytm focusing on consumer payments business: CEO
Paytm is prioritizing rebuilding its consumer payments business after facing regulatory setbacks. The company lost a significant number of users due to RBI restrictions on its payments bank operations. To regain lost users, Paytm is focusing on the consumer payments business and exploring new opportunities like the Third-Party Application Provider (TPAP) model.
Paytm parent’s staff costs rise 21% in a challenging year
Paytm's employee costs rose significantly in FY24, despite regulatory challenges and business slowdown. The company increased the remuneration of its CFO, Madhur Deora, by 15%, while the founder and CEO, Vijay Shekhar Sharma, did not receive a raise. Paytm has also faced several executive departures and is focused on reducing employee expenses and improving its business performance.
Paytm shares rise 3% as co completes transfer of events biz to Zomato
The transaction completion led to a boost in Paytm and Zomato's share prices. Payments will be completed after post-closing audit adjustments.
Apple’s hiring drive; Zomato's new ticketing feature
Apple’s shift from China is driving a massive surge in hiring in India. Details on this and more in today’s ETtech Top 5.
Paytm shares rise over 3% after clarification on Sebi notice
Shares of One 97 Communications, Paytm’s parent company, rose 3.5% to Rs 548.70 on the BSE today, following a clarification on the SEBI show-cause notice issued to founder Vijay Shekhar Sharma and former board members. Over the past year, Paytm's shares have fallen 40%, with a 16.3% decline so far this year.
What should investors do with Paytm stock? Vinit Bolinjkar answers
I think this dip 500 to 525 seems to be a good enough price to get in. Company has adequate growth triggers in place and the business model is absolutely robust and stood the test of time. So, we remain convinced on the growth story of this company.
Paytm issues clarification on Sebi show-cause notice, says not a new development
One 97 Communications, the operator of Paytm, said that the show-cause notice related to founder Sharma's classification as a promoter was already disclosed in its financial results for March and June quarters. The company maintains it adheres to SEBI regulations regarding ESOPs and reported no financial impact from the notice.
Paytm shares drop 9% following report of Sebi's show-cause notice to Vijay Shekhar Sharma
Paytm Share Price: Paytm shares saw a 9% dip to Rs 505.25 following news that SEBI issued show-cause notices to Vijay Shekhar Sharma and ex-board members. The allegations involve misrepresentation during the IPO, focusing on Sharma’s promoter classification. This classification is significant due to regulations on ESOPs for promoters post-IPO.
Paytm to focus on profitability despite fewer digital payment incentives in budget
The government has lowered incentive allocation for Rupay and UPI transactions by about 42% in the budget. Paytm CEO Vijay Shekhar Sharma denied any impact of lower allocation of incentives to promote small ticket digital transactions on his guidance over profitability this fiscal year.
Paytm's government nod; FM on angel tax
Paytm has secured government approval for a $5.97-million investment in a key subsidiary. This and more in today’s ETtech Top 5.
Zomato celebrates 16th birthday with Gold membership for 6 months at just Rs 30
The Zomato ad featured a large photograph of its founder and CEO, Deepinder Goyal, along with smaller images of the company's top executives. The text, written in Hindi, expressed gratitude to customers: “16th janamdin par aap sabhi ko apna pyar barsane ke liye koti koti dhanyavaad” (On our 16th birthday, a big thanks to all of you for showering us with love).
Govt mainstreamed startups; used to be at the bottom of food chain: Paytm's Vijay Shekhar Sharma
The 'American dream' folklore in business and technology parlance has given way to the 'Indian dream' and 'Indian startup', Paytm founder Vijay Shekhar Sharma said, adding that this is "truly a golden period" for founders and entrepreneurs here.
People's enthusiasm, excellent work to make India developed nation our biggest strength: PM Modi
According to the letter shared by organisers of the 7th foundation day of JITO Incubation and Innovation Fund (JIIF), the Prime Minister lauded the values of the Jain community for their work and efforts made in the field of education, health and other areas through JITO.
‘Should have done better … now learnt the lesson,’ says Paytm founder
Paytm is like a daughter who met with an accident and is in ICU, Vijay Shekhar Sharma says in the context of developments at the payments bank. "I saw it as a daughter on the way for an important entrance test, but met with an accident, and in a way is in ICU right now. That was the feeling from a personal, emotional (point of view),” Sharma said speaking at an event organised by JITO Innovation and Incubation Foundation in New Delhi.
Vijay Shekhar Sharma breaks silence on why senior-level employees are leaving Paytm; here's what he said
One97 Communications, the parent company of Paytm, underwent layoffs in June without specifying the number affected, offering outplacement support for transitioning employees. Despite questions about senior-level departures, founder Vijay Shekhar Sharma assured that all is well. Paytm's sales team decreased by 3,500 to 36,521 personnel due to regulatory impacts from the RBI's restrictions on Paytm Payments Bank.
Paytm Bank, auditor lock horns over business viability
Paytm Payments Bank faces audit qualification disputes over viability, seeking RBI intervention. Compliance issues led to operational restrictions, prompting directions to transfer businesses. KYC guideline non-compliance has halted income generation and eroded net worth.
A pivotal event for online commerce; and other top tech, startup stories
Stay tuned to know how the latest capital infusion into Zepto impacts the workings of this fledgling sector.
Zomato-Paytm ticketing deal; Oyo’s Rs 1,000-crore funding
Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch.
Paytm likely in talks with Zomato to sell movie ticketing business
Paytm is in advanced talks to sell its movie and events ticketing business to Zomato amid declining sales. The move is part of Paytm's revival strategy after reporting its first sales decline, triggered by regulatory actions. The potential sale aims to help Paytm refocus on core businesses like travel and cash backs.
Paytm employees cry foul after being asked to quit
Paytm layoffs: Following the RBI's decision to terminate Paytm Payments Bank and the wallet business, numerous employees are being asked to "voluntarily resign" without prior notice. Many have reported being denied severance pay and instructed to repay joining and retention bonuses. Despite the lack of formal communication outlining the restructuring process, some employees allege that termination clauses were not included in their offer letters.
Paytm shares jump another 5% despite denying talks with Adani
Paytm shares rose 5% amid reports of deal talks between Paytm CEO and billionaire. Shares hit upper circuit limit despite company's denial of discussions.
PNB Housing Finance shares drop over 8% after 2.7% equity change hands
PNB Housing Finance shares experienced a significant decline of over 8%, reaching the day's low at Rs 724 in Wednesday's trading on the BSE. This drop followed a sizable block deal where 2.7% of the equity changed hands.
Adani Paytm report: Congress attacks PM Modi, says 'Paytm was Pay to Modi'
The opposition party Congress launched a blistering critique of the Prime Minister on Wednesday following reports suggesting that billionaire Adani might acquire a stake in Paytm. Following the release of the report regarding Adani and Paytm, both companies swiftly clarified their positions. One97 Communications addressed a media report on Wednesday suggesting that Gautam Adani, chairman of the Adani Group, may be contemplating acquiring a stake in Paytm's parent company, One97 Communications.
Adani effect! Paytm shares jump 5% on deal talks between Vijay Shekhar Sharma and Gautam Adani
Shares of Paytm surged 5% as Gautam Adani considers investing in the company. Paytm founder met Adani to discuss a potential deal. Adani is also seeking investments from West Asian funds for Paytm, facing challenges after RBI restrictions.
Not engaged in any discussions: Paytm issues clarification on report claiming Adani in talks to acquire stake in company
One97 Communications responds to speculation of Adani Group chairman Gautam Adani considering acquiring a stake in Paytm's parent company. The company clarifies that no discussions are ongoing, emphasizing compliance with SEBI regulations.
Adani's fintech play: Gautam Adani likely in talks with Vijay Shekhar Sharma to acquire stake in Paytm's parent co
Gautam Adani, chairman of the Adani Group, is reportedly looking into acquiring a stake in One97 Communications, the parent company of Paytm, according to sources cited by The Times of India. Paytm's founder and CEO, Vijay Shekhar Sharma, met with Adani in Ahmedabad to discuss the details of the potential deal.
Inclusive growth should be priority of government: Vijay Shekhar Sharma, Paytm
Vijay Shekhar Sharma, MD of Paytm, emphasizes the importance of economic growth reaching every corner, urging the next government to prioritize this focus.
Paytm shares drop 3% after Q4 results. Should You buy or sell?
Paytm's Q4 results show widened losses and reduced revenue, impacted by disruptions and regulatory actions. Analysts vary: Bernstein sees signs of recovery, Macquarie remains cautious, Motilal Oswal maintains a neutral stance, while JM Financial advises selling.
Paytm shares rally 5% despite widening net loss in Q4
Despite widened net loss and a revenue drop in Q4, Paytm's shares closed near a 5% upper circuit. Impact of disruptions from UPI transition and Paytm Payments Bank embargo cited. Impairment provision of Rs 227 crore for investment in PPBL recorded.
Paytm Q4 losses tripled; Oyo IPO withdrawn
Troubled fintech Paytm reported its first quarterly earnings after the RBI banned its payments bank in January. This and more in today’s ETtech Top 5.
Paytm expects near-term impact on revenue, profitability due to regulatory action: Vijay Shekhar Sharma
Paytm’s parent, One 97 Communications Ltd, is taking steps to “strengthen the governance framework across our group entities (especially regulated entities)” by appointing subject matter experts as advisors of independent directors, says founder Sharma in letter to shareholders. Going forward in the ongoing fiscal, Paytm also anticipates reduction in employee costs.
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Paytm among worst performing fintech stocks as earnings loom
Emkay Global’s analyst Anand Dama expects a further 16% correction, arguing that the fourth quarter results “won’t capture the full extent of business disruptions caused due to the drop in UPI and bill payment market share.”
Paytm app launches auto-rickshaw booking feature via ONDC
Paytm introduces auto-rickshaw booking on its app through ONDC and Namma Yatri for users in NCR, Bengaluru, and Chennai. ONDC tab includes food, groceries, and rides. Pai Platforms facilitates the service with significant mobility transactions.
Paytm COO Bhavesh Gupta resigns; set to become adviser to CEO office
Bhavesh Gupta, Chief Operating Officer (COO) and President of One 97 Communications (OCL), the parent company of the Paytm brand, has resigned. The fintech firm announced this to stock exchanges on Saturday. Gupta will shift to an advisory role at the office of Paytm CEO Vijay Shekhar Sharma by the end of this month.
Paytm COO & president Bhavesh Gupta resigns; to take on advisory role
Bhavesh Gupta has resigned as president and COO of One 97 Communications Ltd, effective May 31. He will be transitioning into an advisory role in the office of CEO Vijay Shekhar Sharma. Varun Sridhar, CEO of Paytm Money, has been transitioned to a different role within the group. Sridhar has been replaced by Rakesh Singh.
Paytm Money CEO Varun Sridhar steps down; Rakesh Singh appointed as chief executive
Paytm Money, the wealth management platform of One 97 Communication, has replaced chief executive Varun Sridhar, at the helm since 2020, with Rakesh Singh. Singh was the chief executive of broking services at Fisdom, a PayU-backed fintech. Sridhar will be moved to a different role within the Paytm group.
Paytm Payments Bank board is independent, Paytm CEO Sharma says
The Reserve Bank of India (RBI) in late January had ordered Paytm Payments Bank to stop accepting new deposits in its accounts or digital wallets from March, citing supervisory concerns and persistent non-compliance with rules.
Scam Exposed: Bengaluru man's viral chat reveals fraudulent techniques, Paytm's Vijay Shekhar Sharma reacts
A Bengaluru resident, Chetty Arun, engaged in a revealing chat with an online scammer, exposing the scammer's deceptive techniques. Arun's conversation not only shed light on the methods used by scammers but also garnered attention from Paytm founder Vijay Shekhar Sharma. The interaction highlighted the importance of cyber security awareness and vigilance in combating online fraud.
Vijay Shekhar Sharma seeks ChatGPT advice on cooking oil. Social media users ask is it the reason behind PayTM's downfall
Paytm founder Vijay Shekhar Sharma sought advice from ChatGPT on the health effects of reheating cooking oil. He shared his findings on social media, warning about the dangers of reheating oil too many times. However, his post was met with criticism from some users, who questioned his focus.
Paytm moves settlements to RBL Bank via own card machines
Paytm will be retaining branding and merchant relations but will be using RBL Bank for its ‘bin’ services
Decoding the digital competition law; Perfios turns unicorn
India’s consumer internet firms have expressed reservations about the ex-ante framework in the proposed digital competition law. This and more in today’s ETtech Top 5.
85% Paytm wallet users not to face disruption; rest asked to link wallet to other banks: RBI Guv
The Reserve Bank of India on January 31 barred Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts. The deadline for linking the wallet attached with PPBL with other banks has been fixed for March 15, the governor said, ruling out any further extension.
Paytm Payments Bank failed to put apparatus for detecting, reporting suspicious transactions under PMLA: FIU
After the Union finance ministry issued a press statement on the FIU action, a Paytm Payments Bank spokesperson had said that the penalty pertains to issues within a business segment that was discontinued two years ago.
"Your teammate and adviser may not get it correct": Paytm founder Sharma breaks silence after RBI's curb on banking unit
Paytm founder Vijay Shekhar Sharma expressed confidence in overcoming regulatory setbacks in India and leading Paytm into a comeback as a stronger company. Despite regulatory curbs on Paytm Payments Bank, Sharma values the role regulators play and aims to add more banks as partners. He emphasized the opportunity to build a financial system for the next generation in Asia, expressing his desire to make Paytm an Asia leader.
Google delists Indian apps; Paytm distances itself from banking arm
The tussle between Google and Indian internet companies over Play Store policies intensified on Friday with the US tech major delisting some local apps. Details on this and more in today’s ETtech Top 5.
Paytm Payments Bank and Paytm to discontinue inter company agreements amid regulatory scrutiny
Paytm Payments Bank has been instructed by the Reserve Bank of India to halt its basic banking services from March 16. Earlier this week, on Monday, Vijay Shekhar Sharma - the founder of Paytm - announced his resignation from the board of Payments Bank, which replaced its directors with new inductees, mostly from the banking and bureaucratic fraternity.
Load more news