Paytm CEO Vijay Shekhar going through a critical phase

Business: Paytm founder and CEO Vijay Shekhar Sharma has said that the company was like his daughter, who was a topper in school and met with an accident on the way to the entrance exam… Paytm founder and CEO Vijay Shekhar Sharma has said that the company was like his daughter, who was a topper in school and met with an accident on the way to the entrance exam. Speaking at the seventh JITO Incubation and Innovation Fund (JIIF) Foundation Day, Sharma said, “As a founder, my company is like my daughter… As a company, we were maturing… It is like a daughter who topped school met with an accident on the way to the entrance exam… It is a feeling that is a little personal, emotional”. At the event, he also talked about the learnings from the Reserve Bank of India (RBI) action on Paytm Payments Bank. The CEO admitted that the setback was emotionally challenging on a personal level, but it served as a valuable lesson in fulfilling responsibilities professionally. Furthermore, Sharma spoke about his dreams and ambitions and his ups and downs. Stating that his personal ambition is to build a $100 billion company, he said he wants Paytm to be recognised globally as an Indian firm. Further, he said that listing a company brings “a lot of responsibility and maturity”, which has its own value and joy. Meanwhile, Paytm has seen early signs of recovery and strong stability for its Unified Payments Interface (UPI) business, which marks a strong turnaround for the company. The total value of UPI transactions processed on the Paytm platform grew to Rs 1.24 trillion in May, with the company launching several initiatives for users such as credit cards on UPI, as well as pushing levers on UPI Lite.