Governor Shaktikanta Das explains why RBI gave one month notice to Paytm to ensure customer convenience. RBI dismisses claims that action against Paytm will hurt the fintech industry.
RBI governor Shaktikanta Das clarifies that there will be no relaxation or review of the central bank's decision against Paytm Payments Bank. The RBI takes action against regulated entities after a comprehensive assessment and the decision to stop accepting deposits or top-ups in Paytm accounts is final. RBI has also directed termination of the 'nodal accounts' of One97 Communications Ltd, the owner of the Paytm brand. However, RBI allows credit of interest, cashbacks, or refunds beyond February 29.
India Business News: RBI governor Shaktikanta Das supports govt's focus on capex, as it is a GDP multiplier. Lower govt borrowings will free up capital for the private sec
India Business News: The Reserve Bank of India (RBI) on Monday ruled out a reconsideration of its decision to put severe restrictions on Paytm Payments Bank's activity and