Entrepreneurs and startups have this ‘genetic flaw’: IT minister Chandrasekhar on Paytm Payments Bank

Union Minister Rajeev Chandrasekhar supports RBI’s measures against Paytm Payments Bank, emphasises legal compliance, warns about consequences of non-compliance and highlights the ‘genetic flaw’ of entrepreneurs and startups in the fintech sector operating in the digital economy. Contrary to the perception that the RBI’s action against PPBL has unsettled the fintech sector, Chandrasekhar disagreed, stating that it has instead made fintech entrepreneurs more aware of their legal obligations.