No FEMA violation found by ED in Paytm Payments Bank case: Report
As part of its probe, the central agency examined more than 50 lakh accounts and wallets, the report said.
Source: hindustantimes.com
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RBI's resounding message to fintechs: Quick and easy but with KYC
The RBI' action has triggered debates over innovation in the fintech sector, the quantum of punishment to Paytm, the style of regulation and, of course, the KYC norms, which is the nub of the Paytm issue.
Source: indiatimes.com
After Paytm, more payments banks under RBI scanner for money laundering: Report
After the Reserve Bank of India cracked down on Paytm Payments Bank last month, more banks are under the scanner for compliance with regulatory norms to curb money laundering, said The Economic Times reported. RBI headquarters in Mumbai (PTI FILE) The Financial Intelligence Unit (FIU) has detected around 50,000 bank accounts without proper know-your-customer (KYC) documents, triggering suspicion
Source: wn.com
Paytm wind-down deadline extended; startups favouring Mumbai
More payment banks are likely to face regulatory action on allegations of money laundering, following the recent RBI crackdown on Paytm. This and more in today's ETtech Top 5.
Source: indiatimes.com