In a recent financial technology conference in Tokyo, Vijay Shekhar Sharma, the founder of Paytm, expressed confidence in his company’s ability to overcome regulatory challenges in Bharat and make a comeback. This public appearance marks his first since the Reserve Bank of India (RBI) ordered Paytm Payments Bank to halt certain activities. Sharma acknowledged the importance of personal responsibility, emphasizing the need for entrepreneurs to take charge of their own decisions rather than solely relying on advice from teammates or advisers.
Sharma’s resignation from the board of Paytm Payments Bank in February came shortly after the RBI barred the bank from accepting new deposits in customer accounts or wallets. Despite these setbacks, he expressed appreciation for the regulatory efforts aimed at fostering a healthy startup environment in Bharat. Sharma highlighted the rapid growth of companies like Paytm, emphasizing the importance of regulators in managing their systemic impact.
Looking towards the future, Sharma expressed hope for Paytm’s success, envisioning it as a leader in the Asian financial landscape. He outlined strategies for the company, including forging new bank partnerships in Bharat and expanding into other Asian markets. Sharma stressed the importance of clarity in navigating challenges, noting that ambiguity can lead to stress while a clear mission fosters perseverance.
In conclusion, Sharma remains optimistic about Paytm’s prospects despite recent regulatory hurdles. He sees the opportunity to build a robust financial system for the next generation in Asia and is committed to making Paytm a key player in this vision. With a focus on strategic partnerships and expansion, Sharma believes that Paytm can overcome challenges and emerge stronger in the evolving financial landscape.
Comments