RBI stops One97 Communications’ associate from accepting deposits after Feb 29

01 Feb 2024 Evaluate

The Reserve Bank of India (RBI) has barred One97 Communications’ (Paytm) associate entity -- Paytm Payments Bank from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.

The Reserve Bank's action against Paytm Payments Bank (PPBL) follows a comprehensive system audit report and subsequent compliance validation report of the external auditors. These reports revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action.

Paytm is India's leading digital ecosystem for consumers as well as merchants.


One97 Communications Share Price

966.00 20.75 (2.20%)
23-Dec-2024 14:50 View Price Chart
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Company Name CMP
One97 Communications 966.00
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