Reported about 13 hours ago
India's financial crime agency has found that Paytm and its subsidiaries violated the Foreign Exchange Management Act by 6.11 billion rupees ($70 million). The Enforcement Directorate reported that Paytm failed to report foreign investments properly and did not adhere to pricing guidelines set by the Reserve Bank of India. Despite these allegations, Paytm maintains that its services remain unaffected. This scrutiny comes as the company seeks a license for payment aggregation after prior regulatory issues.
Source: YAHOO