A field manager of PayTM died by suicide in Indore in Madhya Pradesh on Monday.

According to Lasudia Police station in-charge Taresh Soni, the manager, Gaurav Gupta, 40, died by suicide at his house, in Scheme number 78 in Indore, due to unknown reasons.

The police suspect that Gaurav died by suicide as he feared that he would lose his job if the company shut down.

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.

The police said that they have not yet found any suicide note and further investigation is on.

Meanwhile, Madhya Pradesh Congress chief Jitendra Patwari said that Gaurav had died as he was afraid that he would lose his job if PayTM shut down and criticised the BJP-led central government for the PayTM crisis.

He questioned in a post on X what actions would be taken against those involved in the case.

“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.

It should be noted that PayTM founder Vijay Shekhar Sharma stepped down as the Chairman of Paytm Payments Bank on Monday ahead of March 15 deadline set by the RBI to accept further credits into its customer accounts.

(With inputs from Dharmendra Sharma)