Regulatory Measures Leading to the Restriction of Paytm Payments Bank
Gurgaon, Feb. 12 -- The Reserve Bank of India (RBI) prohibited Paytm Payments Bank from providing nearly all of its services due to non-compliance and material supervisory concerns. These issues were raised in the external auditors' report.
Although the precise non-compliance issues were not specified, Paytm has encountered several regulatory obstacles since its establishment.
What restrictions were imposed on Paytm Payments Bank?
The restrictions imposed on Paytm Payment Bank included
Suspension of deposits
Credit transactions
Fund transfers
Top-ups
However, some of the other services like prepaid instruments, wallets, FASTags, and National Common Mobility Cards also experienced a halt in operations.
What are the regulatory issues th...
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