Paytm Payments Bank has been barred from onboarding new customers by the Reserve Bank of India.
The Reserve Bank of India (RBI) Friday coordinated Paytm Payments Bank Ltd to quit onboarding new clients with quick impact and lead a far-reaching review of its IT framework, referring to 'material administrative worries'. Onboarding of new clients by Paytm Payments Bank will be dependent upon explicit authorization to be allowed by RBI after looking into the report of the IT examiners, the RBI said. 'This activity depends on specific material administrative worries saw in the bank,' the national bank said. 'The RBI has, today, in the activity of its powers, bury alia...
Source: techstory.in
