RBI Action: Paytm denies money laundering allegations, appeals not to pay attention to rumors

RBI Action: Paytm denies money laundering allegations, appeals not to pay attention to rumors

Paytm Clarification on Money Laundering: Paytm is in trouble after the action of Reserve Bank of India (RBI) against Paytm Payments Bank. Quoting sources, it was claimed that many inactive and without KYC accounts have also been found in the bank. Suspicion of money laundering was raised regarding these. It is feared that the Enforcement Directorate may investigate this matter. But, Paytm on Sunday denied all such reports and said that there is no truth in these allegations. 

Media reports were declared wrong 

Paytm's parent company One97 Communications clarified that all these media reports are based on wrong information. The information given in these is not correct. These reports are based only on speculation. One 97 Communications would like to make it clear that no such rumors against Paytm or Paytm Payments Bank should be paid heed to. The company said in its official statement that we believe in transparency. We will make every effort to protect our reputation, customers, shareholders and stakeholders from such misleading news. We will continue to issue such clarifications in future also.

ED investigation is not going on against anyone 

The statement said that no investigation is being conducted by the Enforcement Directorate on any allegations of money laundering against One 97 Communications, its associate companies or Founder and CEO Vijay Shekhar Sharma. However, some time ago an ED investigation was conducted against many people present on our platform. The company had given full cooperation to the ED in this regard. We have always provided full assistance to the authorities.

Wrong information is also coming on social media

The company said that we fully comply with Indian laws. We also take every regulatory order very seriously. We have no connection with any activity like money laundering. Apart from the media, such wrong information is also being given on social media. Therefore, we appeal to our stakeholders not to pay attention to any such rumours. We are considering taking all possible steps to stop such information.

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