Paytm Employee Dies by Suicide in Indore Amidst Company Crisis

The Payment banking company Paytm is currently facing a major financial crisis. Many employees fear job loss, with one man tragically taking his own life due to this concern.

A field manager of Paytm from Madhya Pradesh's Indore died by suicide on Monday. According to reports from Lasudia Police Station, in-charge Taresh Soni stated that Gaurav Gupta, 40, died by suicide at his residence in Scheme number 78 in Indore for unknown reasons. Police suspect Gaurav took his own life out of fear of losing his job if the company closed down. They mentioned no suicide note has been found yet, and the investigation is ongoing.

However, Jitendra Patwari, the Madhya Pradesh Congress chief, stated that Gaurav's death was due to his fear of losing his job if Paytm closed down. He criticized the BJP-led central government for the Paytm crisis and raised concerns about the lack of actions taken against those responsible.

"Will this crisis also be resolved in the name of corporate donations? And then, will there be a lot of money in the coffers of @BJP4India?" he said in the post.

Paytm founder Vijay Shekhar Sharma stepped down as Chairman of Paytm Payments Bank on Monday before the March 15 deadline set by the RBI to accept additional credits into customer accounts.

What Happened with Paytym?

Recently, the Reserve Bank of India (RBI) barred Paytm Payments Bank from receiving deposits and credits from customers after March 15 for persistent non-compliance and continued material supervisory concerns in the bank.