According to a report in The Economic Times that accessed the letter signed by Policybazaar’s Yashish Dahiya, MakeMyTrip’s Rajesh Magow, Bharat Matrimony’s Murugavel Janakiraman, and Innov8’s Ritesh Malik, the founders said that the action against Paytm would have far-reaching impact on the ecosystem and not just on Paytm.
The group of founders urged RBI to reassess the “proportionality of restrictions” on Paytm considering the potential impact on the payments bank, the fintech ecosystem and the broader economy. According to the report, the founders also requested for a “clear and practical window” for Paytm to address the deficiencies and demonstrate its compliance.
