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Business Today India
|September 03, 2023
By acquiring a 10.3 per cent stake from Ant Group, Paytm Founder Vijay Shekhar Sharma has cleared the path to getting a payments aggregator licence
VIJAY SHEKHAR SHARMA, Chairman, MD and CEO of One97 Communications that operates fintech platform Paytm, has made a smart move. By acquiring a 10.3 per cent stake in One97 from China-based Ant Group, he has eliminated possible regulatory concerns around Chinese presence in the firm, while consolidating his stake at close to 20 per cent. Now the challenge lies in resolving the pending regulatory issues with the Reserve Bank of India, even as Paytm moves towards profitability.
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