India's financial crime fighting agency says Paytm violated foreign exchange rules
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 03 2025
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Source: Reuters
Investigation Findings: India's Enforcement Directorate revealed that Paytm and its units violated the Foreign Exchange Management Act, amounting to 6.11 billion rupees ($70 million), due to improper foreign investments and failure to report to the Reserve Bank of India (RBI).
Company Response: Paytm stated that the ED notice does not affect its services and is working to resolve the matter legally, while also awaiting a payment aggregation license from the RBI following previous compliance issues.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
