Persistent non-compliance led to clampdown on Paytm Payments Bank: RBI

Persistent non-compliance led to clampdown on Paytm Payments Bank: RBI

FILE PHOTO: Paytm app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

The Reserve Bank of India’s (RBI) clampdown on Paytm Payments Bank was the result of persistent non-compliance with regulations, top central bank officials said on Thursday, adding they took action after giving the company ample time to comply.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter