After the payments bank was put under an embargo back in March 2022, the Paytm leadership did make compliance a focus area, according to multiple people in the know. It wanted to show the sector regulator that Paytm was ready to support all innovation the RBI wanted to introduce in the payments space. While the company might claim its high compliance standards, it seemed to have fallen short of the RBI s expectations.
The sudden rise in active job seekers is seen as the compound effect of two major events: Paytm laying off 1,000 employees due to AI automation and RBI restricting PPBL from offering almost all major banking services.