Paytm Denies Facing Money Laundering Probe Amid RBI Crackdown

Hundreds of accounts created on Paytm Payments Bank without proper identification were one of the major reasons for the RBI to impose stringent curbs on the company

Paytm today dismissed the report that it was facing an investigation by the Enforcement Directorate (ED) over money laundering charges.

The clarification comes days after the Reserve Bank of India (RBI) issued a directive restricting Paytm from accepting new deposits or allowing credit transactions after February 29, 2024.

"We deny any investigation by the ED on Paytm, our associates or any executive regarding money laundering," the company said in a statement on X - earlier known as Twitter.