Paytm, under the leadership of Vijay Shekhar Sharma, has received approval from the National Payments Corporation of India (NPCI) to begin the process of migrating its users' Unified Payments Interface (UPI) IDs to new ones associated with four major banks: State Bank of India, Yes Bank, HDFC Bank, and Axis Bank. This migration will allow Paytm to enhance its digital payment services, making transactions more seamless for its customers.