Intelligence Alert

RBI imposes restrictions on fin-tech company

Risk level: Low Country: India

As per reports, the Reserve Bank of India on Wednesday (31 January) barred Paytm Payments Bank, a fin-tech company from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after 29 February.

The central bank’s action against Paytm is in response to a comprehensive system audit report and subsequent compliance validation report conducted by external auditors.

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