Thursday, 13 April, 2023

RBI bans Paytm Payments Bank from accepting new accounts

<p>RBI has banned Paytm Payments Bank from accepting new accounts because of a pending audit of its IT system. Paytm bank is responsible for the transactions through the Paytm app which is different from how other payment apps handle their transactions. Anand Dama, an analyst at Emkay Group, said that RBI has not put any restrictions on the processing business which is the main revenue generator.</p>