Reserve Bank of India Governor Shaktikanta Das on Monday said there is “almost no scope” to review the action taken against Paytm Payments Bank.
In a major action against Paytm Payments Bank (PPBL), the RBI, on January 31, directed it to stop accepting deposits or top-ups into customer accounts, wallets, FASTTags and other instruments after February 29.
Speaking to reporters in the national capital on Monday, Das said there was “hardly any space” to review the actions taken against Paytm Payments Bank.
He also said that the RBI takes action against regulated entities only after a thorough assessment.
While emphasizing that the RBI supports the fintech sector, Das said it is also committed to protecting the interests of customers and ensuring financial stability.
The central bank is expected to soon release a series of frequently asked questions (FAQs) on the Paytm matter.
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First published: February 12, 2024 | 16:04 IS