RBI extends deadline for Paytm to close lender

Indian central bank continues to target fintech for “persistent non-compliance”


India’s central bank has extended the deadline for one of the country’s largest payments banks to cease its operations, as the crisis at the fintech continues.

The Reserve Bank of India (RBI) is continuing its clampdown on Paytm Payments Bank for “persistent non-compliances and continued material supervisory concerns”. 

The RBI on February 16 moved the deadline for Paytm Payments Bank to stop accepting deposits, performing credit transactions and taking top-ups in customer accounts from February

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