Do we like Paytm?
Indian digital payments and fintech company (One97 Communications), offering wallet, UPI, QR and merchant payments; based in Noida.
Our score: 4 out of 10. Useful, widely used payments app, but a regulator crackdown and an Enforcement Directorate notice mean we'd hold off backing them until the compliance record is cleaner.
Paytm is Noida-based One97 Communications, founded by Vijay Shekhar Sharma, who is still MD and CEO, with a term running to December 2027. It grew from a mobile wallet into one of India's best-known payments brands.
The big drama came in early 2024, when the RBI cracked down on Paytm Payments Bank. It was barred from taking deposits and top-ups after February 29, and Sharma stepped down as chairman of the bank's board.
The Enforcement Directorate also looked at the bank. Business Today reported it found no FEMA violation at that stage. Then, in February 2025, the ED issued a show cause notice to the parent over alleged breaches involving about ₹611 crore. One97 said the alleged breach predates the two companies becoming its subsidiaries.
We found no outcome of the 2025 proceedings in our searches. Compliance problems at the core of a money business weigh heavily, so we land a bit below the middle.