RBI stops Paytm Payments Bank from onboarding new customers

[rahul1117kumar]

 

[Prithi Deb]

Should I be concerned about my funds?

 

[Itsme...]

https://twitter.com/x/status/1503319149660889088

Source

 

[Bapun]

He also clarified that the RBI directive does not stop Paytm from onboarding new UPI customers, a channel which is a key customer acquisition funnel for the payments player. However, Sharma did not divulge the exact supervisory concerns that led RBI to issue the directive.

Exclusive | Vijay Shekhar Sharma: Paytm continues to onboard UPI customers, RBI ban has no substantial impact on business

"RBI cannot be this illogical. Paytm is not a small-time bank, it is now a publicly-listed company," said Paytm’s founder and CEO Vijay Shekhar Sharma.

www.moneycontrol.com

 

[Bapun]

Paytm Bank Punished for Sharing Data Abroad, Verification Lapses

Annual inspections by RBI found that Paytm Payments Bank’s servers were sharing information with China-based entities.

www.bloombergquint.com