Paytm Approaches RBI To Settle Alleged FEMA Breach: Report

Earlier this year, Paytm received a show cause notice from the ED for violations of foreign exchange norms involving an aggregate transaction amount of INR 611.17 Cr

The fintech major has requested the ED to hold off on formal adjudication proceedings while the RBI reviews the application

The RBI has sole discretion to approve or reject a compounding application

Paytm parent One97 Communications has reportedly filed a compounding application with the Reserve Bank of…