'If they think they are above the law...: Mohandas Pai on Paytm fiasco

At a presser on the MPC policy review, the RBI said the clampdown on Paytm Payments Bank was a result of persistent non-compliance of the regulator's norms. RBI Deputy Governor Swaminathan J said that they were monitoring Paytm Payments Bank and "will take suitable steps as warranted going forward".

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