Fearing Job Loss, Paytm Payments Bank Employee Commits Suicide: Police

A 35-year-old staffer of Paytm Payments Bank Ltd has committed suicide by hanging himself in Indore prima facie due to stress over potential job loss, police said on Monday.

"As per the preliminary investigation, Paytm staffer Gaurav Gupta was under stress for the last few days fearing that the company might close down and he might lose his job. We are investigating," said police inspector Taresh Kumar Soni.

He said Gupta allegedly hanged himself at his house on Sunday.

Police have not found any suicide note from the spot, Soni added.

Notably, the Reserve Bank has barred the PPBL from accepting deposits and credits from any customer post-March 15 for persistent non-compliance and continued material supervisory concerns in the bank.