The RBI on Friday asked Paytm Payments Bank to stop opening new accounts amid "material supervisory concerns" observed in the bank.
The reason for the RBI punishing the bank was because it violated rules by allowing data to flow to servers abroad and didn’t properly verify its customers, a person familiar with the matter told Bloomberg.
Annual inspections by the Reserve Bank of India (RBI) found that the company’s servers were sharing information with China-based entities that indirectly own a stake in Paytm Payments Bank, Bloomberg said quoting a person privy to the matter.
Acharya Devvrat Takes Additional Charge As Maharashtra Governor After Radhakrishnan’s Election As Vice President
'I Feel A Few Things Are Ahead Of Sportsmanship': Suryakumar Yadav Speaks On Team India's Decision To Skip Handshakes With Pakistani Players At Asia Cup 2025; Video
Asia Cup 2025: BJP's Amit Malviya Hails Team India & Suryakumar Yadav For Not Shaking Hands With Pakistan After Win - VIDEO
Mumbai Railway Update: Kurla To Get Elevated Harbour Line Station As 5th And 6th Line Project Picks Up Pace
