💨 Abstract

Paytm, an Indian digital payment company, has received a show-cause notice from the country's financial crime fighting agency for allegedly violating the Foreign Exchange Management Act. The notice concerns the acquisition of two subsidiaries, Little Internet Private Limited and Nearbuy India Private Limited, between 2015 and 2019. The notice is stated to have no impact on Paytm's services to consumers and merchants.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖