ED begins probe into charges against Paytm Payments Bank: Report

The Enforcement Directorate (ED) has started a preliminary investigation into the operations of Paytm, the fintech major’s banking unit, Paytm Payments Bank Ltd (PPBL), according to sources. 

It proves to be another setback to Paytm CEO Vijay Shekhar Sharma. 

About 9 percent fall in the shares of Paytm was recorded on February 14, further intensifying concerns over the ongoing crisis faced by its parent firm, One97 Communications.

The previous week, there was news that the ED was going to look into Paytm and the Payments Bank to see if the businesses had violated any FEMA regulations.

There are no intentions to reevaluate the actions taken against PPBL, the Reserve Bank of India (RBI) made it clear on Monday. 

The regulator emphasised that its decision regarding the fintech giant stemmed from a through evaluation of the company's operations.