Paytm crisis: ED questions officials of Paytm Payments Bank over alleged FEMA violations

Paytm crisis: The Enforcement Directorate (ED) reportedly quizzed officials of the fintech’s payments arm, Paytm Payments Bank, this week in connection with alleged Foreign Exchange Management Act (FEMA) violations. The company executives provided information and documents to the agency in connection with the probe. According to a report in The Economic Times, the executives have been asked to provide further details. A top government official told the financial daily that prima facie it does not look like Paytm violated FEMA norms so far.