Reserve Bank of India (RBI)
The Reserve Bank of India (RBI), in one of uncommon occasions, has revealed the purpose behind hindering Paytm’s, installments managing an account business because The RBI, in August this year, banished Paytm Payments Bank to open new client records and e-wallets also the Noida-headquartered firm has damaged know-your-client (KYC) rules, while on-boarding clients. TOI revealed refering to RBI’s reaction to a RTI recorded by the paper.”RBI Banned Paytm Payments”
Paytm Payments Bank
As per the TOI report, the RBI was not content with the nearby relations because of the fact One 97 Communications originator ,Vijay Shekhar Sharma with the parent organization of Paytm Payments Bank. Among the other clashing issues which RBI referenced incorporate because the infringement of Rs 1 lakh limit for every record toward the finish of day. Paytm Payments Bank ineptitude to support the approved total assets limit of Rs 100 crore. According to the TOI report, anyway the exact infringement are not clear starting at now.RBI Banned Paytm Payments
PAYMENTS BY PAYTM BANNED
Installments banks are not permitted to hold over Rs 1 lakh for every record toward the finish of day. “RBI Banned Paytm Paym” entsRequired to keep a recommended separation from the advertiser and advertiser assemble substances. Vijay Shkhar Sharma claims around 51 percent stake in Paytm Payments Bank and the rest is held by One 97 Communications .
Renu Satti, Former CEO of Paytm
Renu satti, Former CEO of Paytm Payments Bank, had ventured down from the situation after the Reserve Bank of India banned besides. the installments bank to open new records and e-wallets. Therefore the acquiescence of Renu Satti. Paytm Payments Bank named previous SBI official SK Gupta as the new CEO of the installments bank.
PAYTM ACCOUNTS BANNED BY RBI
Installments banks, because of their particular commencement in India, have been for the most part unsuccessful as the aggregate stores of all installments banks remained at Rs 540 crore. Therefore in May 2018, TOI report said further refering to RBI’s answer to the RTI. RBI Banned Paytm Payments”