New Delhi, March 1 -- Paytm received a show cause notice from India's financial crime fighting agency on Saturday for allegedly violating the country's Foreign Exchange Management Act. The notice relates to violations relating to acquisition of two subsidiaries - Little Internet Private Limited and Nearbuy India Private Limited for the years 2015 to 2019, the company said in a statement.

The notice has no impact on its services to its consumers and merchants, Paytm added.

The company in an exchange filing clarified that certain alleged contraventions are attributable to these subsidiaries for transactions during a period before they became part of Paytm.The allegations stem from a show cause notice (SCN) received by Paytm from the Direc...