Ashneer Grover spoke on the action taken by RBI against Paytm, expressed his displeasure 1

The country’s largest bank Reserve Bank of India (RBI) has banned the banking services of the most used online payment service provider Paytm. Ashneer Grover, who was a judge on the country’s famous business show Shark Tank India, has made a big comment on this. Writing on X Post, he said that trumpeting UPI to the world and punishing the big fintech companies in India is ‘hypocrisy’.

Expressed displeasure over RBI’s action
Let us tell you that RBI has banned Paytm Payments Bank from adding any new customer. Along with this, it has also been announced that Paytm Payment Bank will not accept deposits or top-ups in customer accounts, prepaid instruments, wallets and Fastag after 29 February 2024. Ashneer Grover, former founder of fintech company BharatPe, has expressed his displeasure over this decision of RBI.

Fintech sector will end
Posting on X, Ashneer Grover wrote, ‘I am not able to understand RBI, this action of the Reserve Bank is not in the favor of fintech companies. Apart from this, he has also appealed to the office of Finance Minister Nirmala Sitharaman and Prime Minister Narendra Modi to look into this matter.

He has written in his post that all the rules and steps taken recently by RBI are against fintech. In this way this sector will be completely destroyed. This matter needs a lot of attention from Finance Minister Nirmala Sitharaman and the Prime Minister’s Office.
The former founder of Bharat Pay wrote, Startups have been the biggest creators of market capitalization and employment in the last 10 years. It is ‘hypocrisy’ to trumpet UPI to the world and punish the giant fintechs in India.

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