Paytm founder Vijay Shekhar Sharma arrested, later released for ramming into police van

New Delhi: Founder and CEO of Paytm, Vijay Shekhar Sharma was reportedly arrested for ramming his car into a police vehicle.

The incident took place in the month of February, an ANI report said. Vijay was later released on bail, the media report said.

Meanwhile, the Reserve Bank of India has barred Paytm payments Bank from opening new accounts amid ”material supervisory concerns”.

This is the third time that Vijay Shekhar Sharma-promoted Paytm Payments Bank (PPBL) is facing action from the banking regulator since its inception in May 2017. It has been prohibited from opening new accounts for the second time, a PTI report added.