The Enforcement Directorate has launched a money laundering probe against digital payments Paytm Payments Bank Ltd, sources told NDTV Wednesday afternoon. The firm also faces scrutiny over alleged violation of foreign exchange rules; Paytm has called these claims "factually incorrect".
The investigation will add to Paytm CEO Vijay Shekhar Sharma's headaches after the Reserve Bank of India last month barred PBBL from credit transactions across most of its services, effectively shutting down most of its operations, including its popular digital wallet, citing "persistent non-compliance".
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