Paytm Payments Bank executives provided information and documents sought by the agency. ED has asked them to furnish more details by next week, sources said. The executives were summoned as “part of the procedure” that needs to be followed once a Fema investigation is launched.
Officials from Paytm Payments Bank were summoned by the Directorate of Enforcement (ED) for interrogation earlier this week, sources have revealed, as part of an investigation into alleged breaches of the Foreign Exchange Management Act (Fema) by entities using its services.
The Directorate of Enforcement (ED) quizzed Paytm Payments Bank officials this week in connection with its probe into alleged violations of Foreign Exchange Management Act (Fema) by entities using the bank, said people aware of the matter.