At the 7th JITO Incubation and Innovation Fund Foundation Day, Paytm founder and CEO Vijay Shekhar Sharma has come up with a crying Aboriginal analogy that his company is like a daughter. Comparing Paytm to a bright student who stumbled just before an exam, he had said, "As a founder, my company is like my daughter… As a company, we were maturing… It's like a daughter who is a school topper has faced an accident on her way to an entrance test… That's the kind of personal, emotional feeling."
He reflects on some of the recent regulatory action by Reserve Bank of India in the case of Paytm Payments Bank, in which the emotional cost has been paid through Sharma, according to him: "That is a professional responsibility one has to bear at times.
Notwithstanding all this, he said, Sharma has stuck to his ambitions. "Personally, the goals are to make Paytm a $100 billion company and for it to be an internationally known Indian company", he said. He further said that listing brings in increased accountability and maturity, and thus is both a challenge and fulfillment.
Looking ahead, Paytm has given good indications of recovery in its UPI business with its platform clocking Rs 1.24-trillion transactions in the month of May itself, driven by well-planned strategic inputs like Credit Card on UPI and UPI Lite, which seems to be assuring for a strong comeback.
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