India's version of Alipay falls off the wagon www.deekpay.com

## Paytm's fall: the Indian tech giant's disorientation and regulatory storms Introduction: The name "Paytm" used to represent the rise of the Indian tech sector, and its parent company One97 Communications became the star of the Indian tech industry when it raised as much as US$2.4 billion in the largest IPO in India's history. However, Paytm has suffered huge setbacks in recent years, with its share price plummeting, regulatory crackdowns, and its former aura fading, sparking fears of an Indian tech bubble. Paytm's Glory and Lost: Paytm's payment service has been widely acclaimed in the Indian market and is used by well-known companies such as Uber and Indian Railway Services. Leading investment organisations such as Alibaba, Ant Group, SoftBank and Berkshire Hathaway have also invested in the company. However, the problem with Paytm is that it has never been able to turn a profit, and its share price has fallen by more than 70% since its IPO. Regulatory storm and Paytm's woes: The RBI accused Paytm Payments Bank of "persistent violations" and ordered it to stop accepting new deposits. Subsequently, the bank was fined, Paytm was forced to cut ties with the payments bank, and Sharma resigned as chairman of the payments bank's board. The regulatory crackdown has put Paytm's core business at risk, with its lucrative banking and mobile wallet services facing stagnation. Paytm's future: Paytm is currently looking to partner with third-party banks to sustain its payment services. However, without the support of payment banks, Paytm will be limited to facilitating transactions, which is a "non-revenue" business.Paytm's decline exposes the shortcomings of the "growth at all costs" model that is common among Indian startups and raises questions about the future of Paytm. Paytm's demise has exposed the shortcomings of the "growth at all costs" model commonly used by Indian startups, and has raised concerns about a bubble in the Indian market. Rethinking India's Tech Bubble: Paytm's woes are not unique, as Indian education technology company Byju's is also in trouble, facing allegations of misreporting figures and unethical sales practices. India's regulators have stepped up regulation of the financial sector, particularly targeting "shadow banking". This is linked to the upcoming general elections in India, where the financial crisis could turn into a political crisis. Conclusion: Paytm's fall epitomises India's tech bubble and serves as a warning of regulatory turmoil and market risk. The Indian tech industry needs to rethink its excessive growth-seeking model and return to rational development in order to achieve sustainable growth.