Friday, 24 March, 2023

Paytm Bank barred from onboarding new customers by the RBI

<p>Due to likely gaps in its technology systems, the RBI barred SoftBank-backed Paytm Payments Bank from adding new customers.&nbsp;It might stifle the fintech&#39;s plans to become a small finance bank, and upset investors skeptical of the fintech&#39;s capacity to grow revenues following an expensive initial public offering. The RBI&#39;s decision comes from a slew of regulatory and compliance concerns with Paytm.<br /> &nbsp;</p>