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Vijay Shekhar Sharma, the founder and CEO of Paytm, has built the company from a startup to India's biggest mobile payments company. However, a recent regulatory move by RBI banning Paytm's payments bank for violations has put the company's future at risk. Sharma's focus on growth and big numbers may have led to regulatory compliance issues, but his determination and resilience may help Paytm survive this setback.

(Bloomberg) -- The news conference following the Indian central bank’s monetary policy meeting typically centers on topics such as economic growth, inflation and liquidity. On Thursday, however, the discussion was largely dominated by questions about the fate of fintech pioneer Paytm’s bank.Most Read from BloombergEpstein Contacted Staley for Years at Barclays Using Go-Between, Court Filings ClaimCitadel Among Hedge Funds That Got Morgan Stanley’s Block-Trading LeaksA 99% Bond Wipeout Hands Hedg

RBI governor Shaktikanta Das said the regulator will continue to encourage and support innovation and technology in the financial sector.

The Reserve Bank of India on Thursday said the action against Paytm was taken due to ‘persisted non-compliance’.

The EPFO advised all its Field Offices to refrain from accepting claims associated with bank accounts in Paytm Payment Bank Limited with effect from next month.