New Delhi: The Securities and Exchange Board of India (SEBI) has issued an administrative warning to Paytm regarding two transactions conducted with Paytm Payments Bank during the fiscal year 2021-22. In response, Paytm stated in its filing on Monday that it has adhered strictly to all regulatory requirements and compliance standards.

The transactions in question amounted to 3.24 billion rupees ($38.8 million) and 360 million rupees, respectively, and were executed without proper approval.

SEBI's letter dated July 15 highlighted discrepancies between Paytm's claims of compliance and the actual transactions reviewed by the Board and Audit Committee.

In its defense, Paytm asserted, "The Company believes it has consistently acted in compliance with Regulation 23 read with Regulation 4(1)(h) of the SEBI Listing Regulations, including any amendments and updates to these regulations over time."

"The company is committed to upholding and demonstrating the highest compliance standards, and shall also submit its response to SEBI. There is no impact on the financial, operational, or other activities of the company pursuant to the above-mentioned letter," it further added.

Paytm reassured stakeholders that the administrative warning will not affect its financial or operational activities.

Earlier this year, the Reserve Bank of India (RBI) had directed Paytm Payments Bank to cease taking new deposits citing "persistent non-compliances and ongoing material supervisory concerns within the bank."

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