(Reuters) – India’s Paytm received a show cause notice from India’s financial crime fighting agency on Saturday for allegedly violating the country’s Foreign Exchange Management Act.
The notice relates to violations relating to acquisition of two subsidiaries – Little Internet Private Limited and Nearbuy India Private Limited for the years 2015 to 2019, the company said in a statement.
The notice has no impact on its services to its consumers and merchants, Paytm added.
(Reporting by Harshita Meenaktshi and Aditi Shah; editing by David Evans)
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