In 10-minute meeting with Nirmala Sitharaman, Paytm boss Vijay Shekhar Sharma told this

financialexpress.com:

Paytm founder and CEO Vijay Shekhar Sharma met Union Finance Minister Nirmala Sitharaman on Tuesday. The meeting comes amid reports of Sharma’s meeting with officials of the Reserve Bank of India on Monday. According to an NDTV report, the meeting between Sitharaman and Sharma concluded in 10 minutes. The report said that Sharma was told that he needs to sort out the regulatory concerns by the RBI. He was also told that the Narendra Modi government has no role in the current crisis.

Paytm is currently battling its worst crisis after the central bank barred the online payment giant from accepting topups in the wallet after February 29. While Sharma is meeting the government and RBI officials, there has been lot of buzz around the sale of Paytm Payments Bank’s wallet business.

While Mukesh Ambani’s Jio Financial has rejected the reports of any negotiations, HDFC Bank on Tuesday confirmed that it is “talking” to Paytm as the fintech giant tries to navigate the RBI ban. HDFC Bank’s country head for payments Parag Rao said it is in a “wait and watch” mode. However, Rao didn’t say anything about whether it is in talks with Paytm to buy its wallet business.

Meanwhile, a PTI report said that the Enforcement Directorate (ED) and the Financial Intelligence Unit (FIU) have formally requested the Reserve Bank of India (RBI) to provide them with the latest report regarding the recent measures taken to restrict Paytm Payments Bank Ltd from accepting deposits or top-ups in customer accounts.

The ED and FIU, entrusted with the responsibility of investigating violations under the Prevention of Money Laundering Act (PMLA), are currently conducting inquiries into issues concerning the payment gateway under the provisions of the