In the last one year, Paytm users have lost at least Rs 10 crore to frauds. At a complete loss to stem the scams and to save face, it is now going after telcos.
On the phone, the former Paytm executive sounds vulnerable, a man evaluating if he should spell out what he saw happened at the company or hold back, because speaking freely could land him in trouble. “I have personally handled people who have lost more than Rs 10 lakh to these frauds,” he says finally, requesting that he not be named. “A retired gentleman lost Rs 25 lakh, all of his savings. Our initial approach was casual which is why over time this became such a massive problem with more than 500 cases every month. And we were told if …
Ashish is the editor-in-chief of The Morning Context. One of the best-known business feature writers in India, he was selected for Germany’s Robert Bosch Stiftung Fellowship in 2012 and received the Mumbai Press Club RedInk certificate of recognition in 2015 for his story “Inside the Network 18 takeover”. Before joining The Morning Context, Ashish co-founded The Ken, where he was managing editor. His previous writing stints include Mint, Forbes India and The Economic Times.
Editor-in-chief
ashish@mailtmc.com
London