RBI Bars Paytm Payments Bank From Accepting Deposits After Feb 29 menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
RBI said that the Comprehensive System Audit report and subsequent compliance validation report of the external auditors revealed persistent non-compliance and continued material supervisory concerns in the bank, warranting further supervisory action.
Coming down heavily on Paytm Payment Bank over persistent non-compliance and continued material supervisory concerns, Reserve Bank of India (RBI) has asked it to stop deposits, credit transactions and top-ups after 29 February 2024, among other restrictions.