Tuesday, February 27, 2024

There will be no retrenchment in Paytm, Vijay Shekhar spoke from his heart in the town hall.

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Paytm Founder Vijay Shekhar Sharma

The troubles of Paytm, one of the biggest fintech companies of the country, are not ending. The company’s shares are at all time low. An order has been issued to ban Paytm Payment Bank. The company is facing serious allegations like money laundering. Due to which the employees of the company are also very worried. Employees have started feeling that they may become jobless. Now this doubt of the employees has been removed by Vijay Shekhar Sharma himself.

Company founder and CEO Vijay says that no employee will be fired from the company. No one needs to panic. The company is in talks with RBI and other banks for partnership. He said many things to the employees of Paytm Payment Bank in the virtual town hall on Saturday. Company’s President and COO Bhavesh Gupta and bank’s CEO Surinder Chawla were also present on this occasion.

The matter will be resolved soon

The virtual town hall lasted for about an hour. In which 800 to 900 employees were also present along with the company’s founder and senior officials. Vijay Shekhar Sharma said in the town hall that nothing can be said with certainty as to where and how the mistake happened. But in the town hall he expressed confidence that the company will soon be rescued from this crisis. There will be talks with RBI on this issue and efforts will be made to find a solution. On January 31, RBI has stopped Paytm Payment Bank from providing all important banking services like taking deposits, Fastag and credit transactions. This ban will be effective from February 29. This meeting was held 3 days after the imposition of this ban.

The morale of the employees has been boosted

The employee involved in this town hall says that the founder of Paytm had direct communication with all the employees in this time of crisis and assured everyone that everything was fine. An employee said that the way the rumors of layoffs have been dispelled has greatly boosted the morale of the employees. Job security was discussed in this meeting. Also the talk of tie up of banks is coming to the fore.

According to the executive of Paytm’s product team in the media report, we are not scared, but there was an apprehension that RBI would definitely say something, but there was no apprehension that it would come into direct action mode. He further said that work on many changes is going on for the last 6 months. During this time, Paytm payment to the bank has been done completely through Paytm app.

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