New Delhi, April 25 -- The Confederation of All India Traders (CAIT) on Saturday welcomed the decision of the Reserve Bank of India (RBI) to cancel the licence of Paytm Payments Bank Limited, calling it a strong step in the public interest aimed at safeguarding the savings of millions of Indians.
CAIT Secretary General and Chandni Chowk MP Praveen Khandelwal said the RBI's action reflects the seriousness of repeated regulatory non-compliance, governance lapses, and continued disregard for supervisory directions by the bank. He recalled that the RBI had already imposed significant restrictions on the bank's operations in 2024, but the institution failed to adequately address key concerns despite multiple warnings.
Khandelwal appreciated th...