Indian regulator bars Paytm Payments Bank from taking deposits, credit transactions

Indian regulator bars Paytm Payments Bank from taking deposits, credit transactions

FILE PHOTO: A worker adjusts a hoarding of Paytm, a digital payments firm, in Ahmedabad, India, January 31, 2019. REUTERS/Amit Dave

The Reserve Bank of India on Wednesday restricted Paytm Payments Bank Ltd from taking fresh deposits and credit transactions across its services, due to non-compliance of regulations and supervisory concerns.