Paytm receives RBI compounding order, to pay Rs 18.7 lakh for Fema contravention
One 97 Communications, which operates fintech firm Paytm, has received a compounding order from the Reserve Bank of India ( RBI) for contraventions under the Foreign Exchange Management Act ( Fema) linked to past investments in its subsidiary, Little Internet.
In a stock exchange filing on Monday, the company said the RBI has imposed a compounding fee of Rs 18.76 lakh in connection with certain investments made in Little Internet Private Limited by Little Internet Singapore.
In a stock exchange filing on Monday, the company said the RBI has imposed a compounding fee of Rs 18.76 lakh in connection with certain investments made in Little Internet Private Limited by Little Internet Singapore.
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