In spite of recent legal obstacles in India, Vijay Shekhar Sharma, Founder of Paytm, was confident about the prospects for its Digital Payment venture. Sharma, addressing the difficulties faced by Paytm’s banking subsidiary, Paytm Payments Bank, at the Financial Technology Conference stated that he was committed to routing Paytm towards a stronger position.

Since the Reserve Bank of India ordered Paytm Bank to stop certain operations, it was his first public appearance. In dealing with these situations, Sharma stressed the importance of individual responsibility.

Sharma remarked about leadership qualities by saying, “It is important for you, yourself to be taking care of it versus just letting a teammate or an adviser suggest what it should be”.

Sharma added, “Asia has an opportunity to build a financial system for the next generation. Make Paytm an Asia leader — in my lifetime, I would like to do that ... Ambiguity brings stress," he said. "When you are clear, when you know, then it is the perseverance on the mission that you are in … This is a great day when I have new lessons to learn and new opportunities to address,”

Recently Sharma resigned his position in Paytm; the resignation of Vijay Shekhar Sharma from the Paytm Payments Bank’s board was triggered by an Indian banking regulator, in order to stop taking new deposits into customers’ accounts or wallets.

However, Sharma highlighted that the role of regulators in promoting a favourable environment for startups is vital and emphasised their importance when it comes to making India’s start-up environment an attractive one. In addition, he underscored Paytm’s commitment to compliance & transparency and recognised the importance of regulatory oversight in maintaining market integrity.

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