Paytm founder Vijay Shekhar Sharma, who resigned from the board of Paytm Payments Bank Ltd (PPBL) last week in the wake of the Reserve Bank of India action against the bank, expressed confidence that PPBL will overcome the setbacks it is currently facing and stage a comeback.
According to a Bloomberg report, while addressing a financial technology conference in Tokyo—his first public appearance ever since the RBI action—Sharma said he wants to make Paytm an Asia leader in the fintech sector.
“Asia has an opportunity to build a financial system for the next generation,” Sharma was quoted as saying.
He said the biggest takeaway from this crisis for him is "many times your teammate and adviser may not be getting it correct." "And it is important for you, yourself to be taking care of it versus just letting a teammate or a adviser suggest what should it be,” he added.
Sharma appreciated the role regulators play in making the environment safe for startups. “Things become very big and systematically important, very fast...We have been able to very happily see our regulator engage," he observed.
The shares of One97 Communications Ltd, the owner of the Paytm brand, saw further sell-off on Tuesday, with the stock falling over three per cent to settle at Rs 405 at the end of the trading day.
