'PaytmKro', CEO Vijay Shekhar Sharma Assures Customers As Shares Fall 40% In Two Days
At a time when the shares of his company Paytm have crashed 40% in just two days, CEO Vijay Shekhar Sharma is not only showing optimism but has also tweeted to clarify some things.
At a time when the shares of his company Paytm have crashed 40% in just two days, CEO Vijay Shekhar Sharma is not only showing optimism but has also tweeted to clarify some things.
'PaytmKro', CEO Vijay Shekhar Sharma Assures Customers
vijay shekhar sharma paytm/businesstoday
In a tweet early morning today, Paytm CEO Vijay Shekhar has asked Paytm users to stay calm and not panic.
"To every Paytmer, Your favourite app is working, will keep working beyond 29 February as usual. I with every Paytm team member salute you for your relentless support. For every challenge, there is a solution and we are sincerely committed to serve our nation in full compliance. India will keep winning global accolades in payment innovation and inclusion in financial services - with PaytmKaro as the biggest champion of it", he tweeted.
To every Paytmer,
¡ª Vijay Shekhar Sharma (@vijayshekhar) February 2, 2024
Your favourite app is working, will keep working beyond 29 February as usual.
I with every Paytm team member salute you for your relentless support. For every challenge, there is a solution and we are sincerely committed to serve our nation in full¡
Update: Paytm Payments Bank Limited, an associate of Paytm receives RBI directions. Paytm to expand its existing relationships with leading third-party banks to distribute payments and financial services products.
¡ª Paytm (@Paytm) January 31, 2024
Read more here: https://t.co/NsPCOxp6VJ pic.twitter.com/fQjozyR11m
Paytm Shares Crash 40% In Two Days
paytm share price after ban/afp
Right after RBI's circular banning Paytm Payments Bank came out on 31st January, its shares crashed 20% the very next day (1st February). And yet again, Paytm shares have fallen another 20% today. This 40% crash in just two days means Paytm's share price currently stands at Rs 487.20 (on NSE).
Ashneer Grover Calls RBI's Move To Ban Paytm 'Doglapan'
ashneer grover shark tank/gqindia
Reacting to RBI's ban on Paytm, former Shark Tank India judge Ashneer Grover tweeted to criticize the RBI, saying "I don¡¯t understand RBI. Clearly RBI does not want FinTechs in business - of late all regulations / moves are against Fintechs. Such moves will kill the sector altogether. The @FinMinIndia, @nsitharaman, @PMOIndia need to step in. Startups have been biggest creators of market cap and employment in last decade. Today IIM and IIT are struggling to place people - we as a country cannot afford such overreach ! Tom-Tom-Ing @UPI_NPCI to the world and punishing pioneers in the space is pure ¡®Doglapan¡¯!".
I don¡¯t understand RBI. Clearly RBI does not want FinTechs in business - of late all regulations / moves are against Fintechs. Such moves will kill the sector altogether. The @FinMinIndia @nsitharaman @PMOIndia need to step in. Startups have been biggest creators of market cap¡
¡ª Ashneer Grover (@Ashneer_Grover) January 31, 2024
