Paytm CEO Vijay Sharma was arrested on rash driving: Police

New Delhi: Police informed that the CEO of the digital payment app Paytm, Vijay Shekhar Sharma, was arrested last month in a case of rash driving. He was later released on bail in the case, in which he drove a Jaguar Land Rover and hit the car of District Commissioner of Police, South Delhi, NDTV reported.

As per the case, Sharma's speeding car hit DCP Benita Mary Jaiker's at Mother International School on February 22. After the incident, Sharma reportedly fled the scene.

DCP's driver, constable Deepak Kumar was driving her car. He had noted down the Land Rover's registration and immediately informed the police. Initial investigation by the police found that the car was registered to a company in Gurugram. The employees in the company told police that the car belonged to Sharma.

Earlier this week, Paytm Payments Bank, promoted by Sharma, was asked by the Reserve Bank of India (RBI) not to open fresh accounts given the "material supervisory concerns" observed in the bank.

Paytm, the Indian multinational company launched in 2010, also do services relating to e-commerce and financial services. The company based in Noida has facilitated its app to be available in 11 Indian languages and offers services like mobile recharges, utility bill payments, travel, movies, and events bookings, as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions.