There is little scope for review of action against Paytm Payments Bank: RBI Governor

There is little scope for review of action against Paytm Payments Bank: RBI Governor


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ANI

In a major action against Paytm Payments Bank, RBI had barred it from accepting deposits or top-ups in any customer account, wallet, Fastag and other instruments after February 29.

New Delhi. Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said there is ‘hardly any scope’ for reviewing the action taken against Paytm Payments Bank (PPBL). In a major action against Paytm Payments Bank, RBI had barred it from accepting deposits or top-ups in any customer account, wallet, Fastag and other instruments after February 29.

Speaking to reporters in the national capital on Monday, Das said there was ‘hardly any scope’ for a review of the action taken against Paytm Payments Bank. He also said that RBI takes action against regulated entities only after comprehensive assessment. Das emphasized that the regulator supports the financial technology (FinTech) sector, and is committed to ensuring financial stability while also protecting the interests of customers. It is expected that the central bank will soon issue FAQs (Frequently Asked Questions) on the Paytm issue.

Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.



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