In his first statement on the sudden demonetization of five hundred and thousand rupee notes, Delhi CM Arvind Kejriwal may have hinted at Modi being in cahoots with leading Fintech app company Paytm.

Paytm biggest beneficiary of PM's announcement. Next day PM appears in its ads. Whats the deal, Mr PM? https://t.co/lfP0PrQICQ — Arvind Kejriwal (@ArvindKejriwal) November 10, 2016

Paytm is India's biggest provider of mobile wallet based transactions and has rapidly become a popular source of transactions not only for online e-commerce purchases but also for small store cashless transactions where it is used to buy daily essentials, pay for cab rides and more.

Paytm took out front page ads across major English newspapers on the 9th and 10th of November, thanking PM Modi for " taking the boldest decision in the financial history of independent India!"

Paytm has recorded a colossal 25% growth within hours of PM Modi's announcement - it was among the first movers to push out social media posts asking India to go cashless.

Until yesterday, Kejriwal, who is known to react on everything that Prime Minister Narendra Modi does, had been silent on the government's decision. Well almost - he retweeted the anger of West Bengal CM Mamata Banerjee's tweet calling Modi's move a 'draconian decision'. His Twitter timeline, at the time of writing this, was full of retweets of criticisms and minor disarray as India sought to cope with the move, instituted to erase India's stockpiles of black money overnight.