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Following RBI limits, Paytm’s Vijay Shekhar Sharma said, “app will work beyond Feb 29.”

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<p>Paytm’s founder and Chief Executive Officer, Vijay Shekhar Sharma, addressed the concerns of Paytm users on Friday in response to the recent regulatory actions taken by the Reserve Bank of India against Paytm Payments Bank.</p>
<p><img decoding=”async” class=”alignnone wp-image-383696″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-following-rbi-limits-paytms-vijay-shekhar-sharma-said-app-will-work-beyond-feb-29-.jpg” alt=”theindiaprint.com following rbi limits paytms vijay shekhar sharma said app will work beyond feb 29″ width=”1079″ height=”607″ title=”Following RBI limits, Paytm's Vijay Shekhar Sharma said, "app will work beyond Feb 29." 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-following-rbi-limits-paytms-vijay-shekhar-sharma-said-app-will-work-beyond-feb-29-.jpg 690w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-following-rbi-limits-paytms-vijay-shekhar-sharma-said-app-will-work-beyond-feb-29–390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-following-rbi-limits-paytms-vijay-shekhar-sharma-said-app-will-work-beyond-feb-29–150×84.jpg 150w” sizes=”(max-width: 1079px) 100vw, 1079px” /></p>
<p>Sharma reassured users that the application will seamlessly continue its operations beyond February 29, expressing profound gratitude to the app users for their steadfast support.</p>
<p>“In addressing every Paytmer, rest assured that your favored application will persist and function as usual beyond the 29th of February,” he conveyed in a post on X (formerly Twitter).</p>
<p>“I, alongside each Paytm team member, extend our heartfelt salute for your unwavering support. In the face of every challenge, a solution exists, and we are genuinely dedicated to serving our nation in complete compliance,” noted Sharma.</p>
<p>Furthermore, he added, “India will continually garner global acclaim for payment innovation and financial services inclusion, with PaytmKaro standing as its foremost champion.”</p>
<p>Vijay Shekhar Sharma’s statement emerges at a juncture where Paytm strives to dispel uncertainties among users subsequent to the central bank’s prohibition of key services from Paytm Payments Bank on February 29.</p>
<p>Amid circulating speculations on social media suggesting potential disruptions to the Paytm app following the RBI’s actions, Paytm has proactively issued a comprehensive FAQ to clarify its continuous functionality. While acknowledging the possibility of temporary disruptions in some services, Paytm affirms its collaboration with external banking partners to ensure seamless operations.</p>
<p>As of the article’s publication, Paytm shares experienced a 20 percent decline, reaching their lower circuit and hitting a 52-week low of Rs 487.20 apiece. This marks the second consecutive day of a 20 percent decrease in Paytm shares.</p>
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