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Home Featured

RBI bans Paytm Payments Bank from onboarding new customers

by MN4U Bureau
March 11, 2022
in Featured, Mobile/Digital
Reading Time: 1 min read
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Reserve Bank of India
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The Reserve Bank of India has directed Paytm Payments Bank from onboarding new customers with immediate effect.The bank has also been directed to appoint an IT audit firm to conduct a comprehensive System Audit of its IT system.

“Onboarding of new customers by Paytm Payments Bank Ltd will be subject to specific permission to be granted by RBI after reviewing reports of the IT auditors. This action is based on certain material supervisory concerns observed in the bank,” the statement from RBI read.

Tags: Paytm Payments BankReserve Bank of India

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