In a significant development for fintech major Paytm, the Reserve Bank of India (RBI) has reportedly agreed to partly compound the company’s plea to settle alleged violations under the Foreign Exchange Management Act (FEMA). The decision marks an important step in the ongoing regulatory scrutiny faced by Paytm and its parent entity, One97 Communications Ltd (OCL), as they navigate a series of compliance-related challenges with the central bank and other authorities.
According to reports, the RBI’s compounding wing has accepted part of Paytm’s application for settlement, while other aspects of the alleged contraventions remain under review. The move allows Paytm to resolve certain procedural
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