In the midst of RBI’s regulatory challenges and ED investigation, Paytm announces plans to expand its workforce across various divisions, as reported in a recent blog on the company's website. According to the blog post, Paytm is actively seeking to fill positions in both its product and business segments, with recruitment partners noting significant interest from top talents nationwide.
Ankit Agarwala, Managing Director of Page Group, a recruitment partner of Paytm, affirmed the ongoing recruitment drive, emphasising the company's focus on attracting high-caliber individuals. Agarwala highlighted the continuous demand for roles within product and business divisions.
Despite the regulatory restrictions imposed by the Reserve Bank of India (RBI) on its associate entity, Paytm Payments Bank Limited (PPBL), the company remains resolute. The central bank's directive, issued on January 31, mandated PPBL to cease accepting deposits or top-ups in customer accounts and other instruments after February 29.
In response to the challenges, Paytm expressed solidarity among its workforce and emphasised the continued interest from top talents aspiring to contribute to the company's vision of reshaping India's digital landscape.
With an estimated workforce of around 30,000 employees, Paytm remains committed to its values of innovation and excellence, as reiterated in the blog post. The company's recruitment partners, including EMA Partners India, acknowledge Paytm's enduring appeal to talent nationwide, citing its reputation for agility and innovation.
Reet Bhambhani, Senior Partner of Banking, Financial Services, and Technology at EMA Partners India, noted sustained interest in leadership roles across engineering, business, and product streams within Paytm.
Despite the regulatory hurdles, Paytm's recruitment drive underscores its determination to navigate challenges while continuing to expand its operations and talent pool.
Meanwhile, Paytm shares saw another steep fall in its shares on Wednesday. At 9:20 am, Paytm shares were trading at Rs 346.75 on the National Stock Exchange (NSE), marking a significant drop of 8.9 per cent from previous levels. The stock plummeted to a new 52-week low of Rs 344.1.