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The advisory committee formed after the RBI action against Paytm Payments Bank has said that they have not yet identified any major issues with Paytm. Now we have to work more deeply with the company,” said M Damodar, chairman of Paytm's parent company One97 Communications Committee and former SEBI chairman.
Paytm is busy in deal with RBI
Damodaran said that we are external consultants. At present Paytm is busy in deal with RBI. It is too early to say anything right now. We have not reached that stage yet. On January 31, RBI banned PAYTM Payments Bank from taking deposits, credit transactions and top ups. Earlier the deadline for payment bank was 29th February. Now it has been extended to March 15. Following the action, Paytm formed an advisory committee under the chairmanship of M Damodar on February 9 to look into the regulatory issues.
Biography of M Damodaran released
While launching his biography The Turmeric Latte, M Damodaran said that it is not appropriate to say anything directly about any problems faced by fintech companies. His autobiography is written on the experiences of his colleagues in SEBI. Damodaran said that SEBI is facing many problems. It is becoming difficult for them to deal with all these problems together. This is why sometimes it feels like he is taking too many steps.
Damodaran received threats
Tripura cadre IAS Dinesh Tyagi and former mines secretary Sushil Kumar contributed to the book. Dinesh Tyagi has also been the former MD of CSC e-Governance. There is also mention of threats received by Damodaran in this book. According to the book, during his tenure as Joint Secretary of the Ministry of Information and Broadcasting, he took some decisions which some people did not like and threatened Damodaran.
