Mumbai, July 15 -- Business-to-business (B2B) payments firm PayMate India Ltd has delayed salaries for several employees since April due to cash flow issues, four persons in the know toldMint. The delays come amid delayed funding and as the company has ramped up investments in international markets following a Reserve Bank of India (RBI) directive last year that destabilised its India business.
According to three of the people with knowledge of the matter who did not want to be named, the 100 employees of the company have received incomplete salaries in the past four months. In April, employees across levels were impacted. While some junior staff were paid in the following months, several senior employees have been waiting for their dues...
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