Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday advised Public Sector Banks (PSBs) to make concerted efforts to garner deposits by conducting special drives. This advice is crucial as PSBs are experiencing a tricky situation of slower deposit growth compared to the sharp increase in loan advances in the recent years. Also read: Fintechs …
Reserve Bank of India has imposed restrictions on Paytm Payments Bank and barred the entity from offering incremental banking services effective March 2024, due to concerns regarding breach of and compliance with regulatory norms. “The Comprehensive System Audit report and subsequent compliance validation report of the external auditors revealed persistent non-compliances and continued material supervisory …
New Delhi: The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting fresh deposits and making credit transactions. India’s apex bank said in a statement that the action was precipitated by the bank’s “persistent non-compliances”. Paytm’s parent company is Noida-based One97 Communications .(Virendra Singh Gosain/ HT) {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} The …