News for 'vijay-shekhar-sharma'

Paytm founder Vijay Shekhar Sharma surrenders 2.1 cr ESOPs

Paytm founder Vijay Shekhar Sharma surrenders 2.1 cr ESOPs

Rediff.com16 Apr 2025

Fintech firm One97 Communications' managing director and chief executive officer Vijay Shekhar Sharma has voluntarily surrendered 2.1 crore shares worth about Rs 1,800 crore, as per a regulatory filing and share closing price of the company.

Vijay Shekhar Sharma steps down as Paytm Payments Bank chairman

Vijay Shekhar Sharma steps down as Paytm Payments Bank chairman

Rediff.com26 Feb 2024

Vijay Shekhar Sharma has stepped down as part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL), and the board of the bank has been reconstituted. The Reserve Bank has barred the PPBL from accepting deposits and credits from any customer post-March 15 for persistent non-compliances and continued material supervisory concerns in the bank. PPBL has reconstituted its Board of Directors with the appointment of Ex-Central Bank of India chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former executive director of Bank of Baroda Ashok Kumar Garg, and former IAS officer Rajni Sekhri Sibal, Paytm said in a regulatory filing on Monday.

Paytm unveils all-new app with clean interface, AI features

Paytm unveils all-new app with clean interface, AI features

Rediff.com10 Nov 2025

Paytm (One 97 Communications Ltd), India's full-stack merchant payments leader serving MSMEs and enterprises, has launched a fully redesigned version of its flagship app, integrating artificial intelligence-driven features to streamline and personalise everyday transactions for its users.

Mukesh Ambani is back as India's richest, Gautam Adani second: Hurun

Mukesh Ambani is back as India's richest, Gautam Adani second: Hurun

Rediff.com1 Oct 2025

Mukesh Ambani has reclaimed his position as the richest Indian, overtaking Gautam Adani, according to the M3M Hurun India Rich List 2025 released on Wednesday. With a wealth of Rs. 9.55 lakh crore ($105 billion), the 68-year-old Reliance chairman returned to the top spot, while Adani, 63, and his family followed closely with Rs. 8.15 lakh crore.

Is Paytm Out Of The Woods?

Is Paytm Out Of The Woods?

Rediff.com2 Oct 2025

'This marks a turning point for Paytm, with the regulatory environment looking much clearer than it has been in the last two years.'

Vijay Shekhar Sharma buys 1.7 lakh Paytm shares worth Rs 11 cr

Vijay Shekhar Sharma buys 1.7 lakh Paytm shares worth Rs 11 cr

Rediff.com17 Jun 2022

Digital financial services firm One97 Communications' Managing Director Vijay Shekhar Sharma has purchased 1.7 lakh shares of the company worth Rs 11 crore, according to a regulatory filing.

Sitharaman asks fintechs to strengthen risk management to check AI misuse

Sitharaman asks fintechs to strengthen risk management to check AI misuse

Rediff.com8 Oct 2025

Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.

Paytm posts first-ever profit of Rs 122.5 crore in Q1 FY26

Paytm posts first-ever profit of Rs 122.5 crore in Q1 FY26

Rediff.com23 Jul 2025

Fintech firm One97 Communications, which owns the Paytm brand, reported its first-ever consolidated net profit at Rs 122.5 crore in the quarter ended June 2025, mainly on account of cost optimisation and an increase in payment revenue. Paytm had posted a net loss of Rs 840 crore in the year-ago period.

Govt, UPI To Set Up Real-Time Payment Tripwire

Govt, UPI To Set Up Real-Time Payment Tripwire

Rediff.com4 Jul 2025

Google Pay, PhonePe, and Paytm may deliberately delay transactions, issue fraud alerts, and require an extra layer of user confirmation before processing any transactions that are likely to be classified as fraudulent.

Startups To Altman: Make OpenAI Affordable

Startups To Altman: Make OpenAI Affordable

Rediff.com6 Feb 2025

'There is need for India-specific pricing.' 'Google, Microsoft and others also have different pricing.' 'It is important for OpenAI to think on these lines as the global pricing may not work in the Indian context.'

'Exceptional item' keeps Paytm in loss with Rs 540 crore hit in Q4FY25

'Exceptional item' keeps Paytm in loss with Rs 540 crore hit in Q4FY25

Rediff.com7 May 2025

One97 Communications Ltd (OCL), the company that operates the Paytm brand, posted a consolidated loss of Rs 539.8 crore in the fourth quarter of 2024-25 (Q4FY25), slightly lower from the Rs 549.6 crore it reported in Q4FY24. Sequentially, the fintech company's loss widened from Rs 208.3 crore in Q3FY25 on account of a one-time exceptional expense amounting to Rs 522 crore during the quarter ended March 2025.

OpenAI CEO Sam Altman calls India a potential AI leader

OpenAI CEO Sam Altman calls India a potential AI leader

Rediff.com5 Feb 2025

Two years after his dismissive stance on India's AI potential raised eyebrows here, OpenAI CEO Sam Altman on Wednesday gave a ringing endorsement to Artificial Intelligence momentum in the country -- and billed India as an important market not just for the new-age technology itself but for the ChatGPT creator as well. In New Delhi on Wednesday, Altman -- while sharing dais with Union IT minister Ashwini Vaishnaw -- said India is the second biggest market for the company and that Open AI had tripled its users here in the last year.

Paytm to reapply for RBI's payments aggregator licence

Paytm to reapply for RBI's payments aggregator licence

Rediff.com15 Sep 2024

Paytm will focus on its core business of payments and cross-selling financial services as it works to achieve "profitability soon", said Vijay Shekhar Sharma, founder and chief executive officer of the fintech, on Thursday. "The past six months have taught us many lessons, giving us the opportunity to thoroughly examine our business processes, compliance, and the way we operate from the inside out.

Son's AI Hopes From Indian Business

Son's AI Hopes From Indian Business

Rediff.com28 Nov 2024

'Son believes India has a significant opportunity in chip design, especially in creating IP that will be uniquely Indian.'

NPCI nod to onboard users may help Paytm streamline UPI operations

NPCI nod to onboard users may help Paytm streamline UPI operations

Rediff.com3 Nov 2024

One97 Communications (OCL), the company that operates brand Paytm, received a nod from the National Payments Corporation of India (NPCI) to onboard new Unified Payments Interface (UPI) users. This comes nearly nine months after the Reserve Bank of India (RBI) placed an embargo on OCL to add new customers.

Paytm gets NPCI nod to onboard new UPI users

Paytm gets NPCI nod to onboard new UPI users

Rediff.com23 Oct 2024

The National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars, according to the company. The move is expected to come as a relief to Paytm, which had suffered a blow following the Reserve Bank of India's restrictions earlier this year on associate company Paytm Payments Bank Limited (PPBL) in onboarding new UPI users on the Paytm app. In March, the NPCI gave approval to Paytm to participate in UPI as a Third-Party Application Provider (TPAP).

Paytm, Adani Group deny stake sale talks

Paytm, Adani Group deny stake sale talks

Rediff.com29 May 2024

Paytm operator One97 Communications Ltd on Wednesday said it is not in talks to sell a stake to the Adani Group. Adani group has also termed such reports as "false and untrue." Commenting on a report that billionaire Gautam Adani was in talks with Paytm CEO Vijay Shekhar Sharma for a possible stake buy, One97 Communications said, the "news item is speculative and the company is not engaged in any discussions in this regard."

What Led To Paytm's Big Fall

What Led To Paytm's Big Fall

Rediff.com12 Mar 2024

At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.

Paytm Payments Bank MD and CEO Surinder Chawla quits

Paytm Payments Bank MD and CEO Surinder Chawla quits

Rediff.com9 Apr 2024

Beleaguered Paytm Payments Bank's managing director and CEO Surinder Chawla has resigned from the company, a regulatory filing said on Tuesday. Chawla's resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI. "Surinder Chawla, managing director and CEO of PPBL, has tendered his resignation on April 8, 2024, on account of personal reasons and to explore better career prospects.

Has Paytm Woken Up Too Late?

Has Paytm Woken Up Too Late?

Rediff.com20 Feb 2024

Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.

Paytm Crisis: StartUp Founders Take Note

Paytm Crisis: StartUp Founders Take Note

Rediff.com22 Feb 2024

Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.

Ant Financial's stake value declines to Rs 2,742 crore on Paytm woes

Ant Financial's stake value declines to Rs 2,742 crore on Paytm woes

Rediff.com13 Feb 2024

The Chinese financial giant, which had invested in One 97 Communications since 2015, has seen a sharp decline of 45 per cent, or Rs 2,125 crore, in its stake value since the Reserve Bank of India (RBI) took action against Paytm Payments Bank on January 31. One 97 shares closed at Rs 422.6 a share on Monday. The Chinese company, however, had sold its stake worth Rs 8,293 crore in three tranches over one year.

Paytm can continue UPI transactions through 4 banks

Paytm can continue UPI transactions through 4 banks

Rediff.com14 Mar 2024

The National Payments Corporation of India on Thursday granted approval to Paytm-owner One97 Communications Ltd to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.

ED to probe Fema breach in Paytm bank case

ED to probe Fema breach in Paytm bank case

Rediff.com15 Feb 2024

The Directorate of Enforcement (ED) has launched a preliminary investigation or a pre-open inquiry into alleged violations related to the Foreign Exchange Management Act (Fema) in the Paytm Payments Bank case, according to sources in the know. The probe follows serious concerns raised by the Reserve Bank of India on multiple violations by the Paytm bank, which is a joint venture between One97 Communications, which is the parent company of Paytm, and the group's founder Vijay Shekhar Sharma.

Why is Paytm's Vijay Sharma crying?

Why is Paytm's Vijay Sharma crying?

Rediff.com19 Nov 2021

Glimpses of Vijay Shekhar Sharma's joy during the IPO listing ceremony on the BSE.

Back to basics: Paytm's focus is payments and distribution

Back to basics: Paytm's focus is payments and distribution

Rediff.com14 Jun 2024

Paytm, the country's leading fintech player which had to shut its payment bank business following regulatory action, is revisiting its business strategy including partnership with lenders. Also, the company's founder and chief executive officer (CEO) Vijay Shekhar Sharma has decided to oversee the day-to-day operations with all the major verticals reporting directly to him now. "The thing on top of everyone's agenda is getting the core businesses back on track," a person in the know said.

Is There Time For A Reset For Paytm?

Is There Time For A Reset For Paytm?

Rediff.com12 Feb 2024

Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.

Paytm denies any Enforcement Directorate probe into money laundering

Paytm denies any Enforcement Directorate probe into money laundering

Rediff.com5 Feb 2024

One97 Communications Ltd (OCL), the parent firm of fintech major Paytm, has denied reports about any investigation by the Enforcement Directorate (ED) into the company, its associates, and its founder and chief executive officer (CEO), Vijay Shekhar Sharma. The company, in an exchange filing on Sunday, said it had cooperated with the authorities when users or merchants on its platform were subject to enquiries in the past. "We would like to set the record straight and deny any involvement in anti-money laundering activities.

85% Paytm wallet users not to face disruption: RBI Guv

85% Paytm wallet users not to face disruption: RBI Guv

Rediff.com6 Mar 2024

As many as 80-85 per cent Paytm wallet users will not face any disruption because of regulatory actions, and the remaining users have been advised to link their apps to other banks, RBI Governor Shaktikanta Das said on Wednesday. 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.

Paytm net loss widens to Rs 550 crore in Q4

Paytm net loss widens to Rs 550 crore in Q4

Rediff.com22 May 2024

Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted a loss of Rs 167.5 crore in the same period a year ago, the company said in a regulatory filing. "Our fourth quarter FY24 results were impacted by temporary disruption on account of UPI transition etc. and permanent disruption because of the PPBL embargo.

Will Kejriwal Wrestle The Great Khali?

Will Kejriwal Wrestle The Great Khali?

Rediff.com19 Nov 2021

Paytm's Vijay Shekhar Sharma savours Mumbai's street fare... Shashi Tharoor bangs a drum... Punjab CM visits Pakistan...

Paytm Payments Bank fiasco: Independent directors raised concerns

Paytm Payments Bank fiasco: Independent directors raised concerns

Rediff.com18 Feb 2024

At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.

Price Waterhouse resigns as Paytm Payments' auditor, SR Batliboi appointed

Price Waterhouse resigns as Paytm Payments' auditor, SR Batliboi appointed

Rediff.com8 Aug 2023

Price Waterhouse Chartered Accountants (PwC India) has resigned as the auditor of Paytm Payments Services, the fintech major said in a regulatory filing on Monday. "...we wish to inform you that M/s. Price Waterhouse Chartered Accountants LLP ... statutory auditors of material subsidiary i.e. Paytm Payments Services Limited (PPSL) have resigned with effect from August 7, 2023," the company added. Paytm said that the statutory auditors had not raised any concerns or issues and that the company had noted PwC's resignation.

Paytm investors not in a hurry to sell

Paytm investors not in a hurry to sell

Rediff.com16 Nov 2022

Paytm's pre-IPO investors, which include likes of Warren Buffet's Berkshire Hathway, SoftBank and Alibaba, do not seem to be in a hurry to exit India's leading digital payments brand as they continue to believe in its long-term prospect, analysts said. On Tuesday, 86 per cent of Paytm's shares became free to trade after the end of the lock-in period, allowing investors to sell shares that haven't yet been allowed onto the market. Market participants have been speculating on Paytm, post-expiry of lock-in for pre-IPO investors.

Paytm shareholders approve India's biggest IPO

Paytm shareholders approve India's biggest IPO

Rediff.com12 Jul 2021

The shareholders have approved raising of Rs 12,000 crore during the initial public offer and sale of secondary shares will take the total amount to Rs 16,600 crore. "Shareholders have approved all the proposals at the extraordinary general meeting. "The shareholders have approved the proposal to raise capital and the fresh issue of shares of up to Rs 12,000 crore during the IPO.

'Paytm's business will continue'

'Paytm's business will continue'

Rediff.com23 Mar 2022

'We now understand things that we have to correct.'

Paytm IPO price band set at Rs 2,080-2,150

Paytm IPO price band set at Rs 2,080-2,150

Rediff.com28 Oct 2021

Digital firm One97 Communications, which operates under Paytm brand name, on Thursday said its IPO will open on November 8 for subscription in the price band of Rs 2,080-2,150 apiece, which implies that the firm's valuation stands at Rs 1.44 lakh crore-Rs 1.48 lakh crore. The initial public offer (IPO) subscription will close on November 10.

Social media startup Pepul to launch on R-Day

Social media startup Pepul to launch on R-Day

Rediff.com19 Jan 2022

After raising Rs 10 crore in seed funding last week from investors like Paytm founder Vijay Shekhar Sharma, Freshworks founder Girish Mathrabootham and Silicon Valley based venture capitalist firm Hourglass Venture, Chennai-based social media startup Pepul told Business Standard that it is looking to raise around Rs 200 crore by June this year for expansion. The social media platform, focused on online ethical practices, will be launched by 1,000 entrepreneurs across the country on January 26. Pepul, founded by G Suresh Kumar, will be using an Aadhaar-based user verification system to get rid of fake accounts on its platform. "We are planning to raise around Rs 200 crore by June this year.

G20 Summit: Startups hope Delhi Declaration to help ease capital access

G20 Summit: Startups hope Delhi Declaration to help ease capital access

Rediff.com11 Sep 2023

The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.

Paytm may raise Rs 16,600 cr in IPO

Paytm may raise Rs 16,600 cr in IPO

Rediff.com6 Jul 2021

Digital payments firm Paytm is expected to seek shareholders' approval to raise up to Rs 16,600 crore through an initial share sale, giving it a valuation of over Rs 1.78 lakh crore, according to a source. The extraordinary general meeting of Paytm is scheduled for July 12 in which the company may seek approval to raise up to Rs 12,000 crore through issuance of fresh equity. Another Rs 4,600 crore is expected to be raised from the sale of equity shares by existing and eligible shareholders, according to the source.