Congress questioned the silence of Enforcement Directorate’s (E.D)

Congress questioned the Enforcement Directorate’s silence after RBI canceled Paytm payment bank services.

Congress leader Supriya Srinathe, who spoke to reporters about this, said, “What is the Centre’s stand on this scam?” Paytm Payments Bank is still benefiting despite the wrongdoing for the past seven years. The head of Paytm Payment Bank is a devotee of Prime Minister Modi, has taken selfies with him and has published advertisements to gain favor from the Prime Minister,” he alleged.

“PM Modi has supported Paytm in his election rallies. Why are investigating agencies silent when there are allegations against Prime Minister Modi’s close associates? Why is ED silent? Supriya Srinathe asked.

Paytm has denied that Paytm’s parent company One97 Communications or its head Vijay Shankar Sharma ED are under investigation.

“Paytm company, head or CEO is not facing any investigation by ED for money laundering. Earlier some traders/users were investigated in respective cases. We will always cooperate with the authorities,” Paytm said in a recent release.

“We provide documents directly and deny involvement in money laundering activities. We are following Indian laws and will always abide by them. We take the country’s regulatory orders seriously,” Paytm said in its announcement.

According to a Bloomberg report, the RBI will consider revoking Paytm’s payments bank license next month. The company has been given a deadline of February 29, after which the Paytm subsidiary will not accept new deposits.

The RBI said in the violation order that thousands of Paytm Payment Bank customers have not submitted their KYC documents and in some cases, thousands have registered using one PAN card.

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