India Business News: Learn why RBI is targeting Paytm and other financial frauds in India. Find out how this crackdown will impact the banking and fintech sectors.
India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank Group Corp.
Paytm: Indian regulators are cracking down on potential fraud in the financial sector, starting with Paytm. The Reserve Bank of India is getting tougher on customer verification lapses and may take more severe action against Paytm bank, which had backing from Warren Buffett and SoftBank Group Corp.