The Enforcement Directorate has written to the central bank to seek data relating to transactions by Paytm’s platforms, the two sources said.
One of the sources added that the investigators were not yet in contact with Paytm.
The sources declined to be named because they were not authorised to speak to the media.
The Enforcement Directorate and the Ministry of Finance, which oversees the agency, did not immediately respond to requests for comment.
A spokesperson for Paytm said that allegations regarding FEMA violations were “unfounded and factually incorrect”.
The Reserve Bank of India on Wednesday ordered Paytm Payments Bank, an affiliate of Paytm, to wind down most of its businesses, including deposits, credit products and its popular digital wallets, by Feb. 29.
Reuters