Paytm CEO meets RBI to address regulatory concerns, says report
The Reserve Bank of India instructed Paytm Payments Bank to stop accepting new deposits and issuing new credits starting February 29th
Paytm CEO Vijay Shekhar Sharma and company officials held a meeting with the Reserve Bank of India (RBI) on Monday to present a plan for resolving regulatory issues, reported news agency Reuters.
RBI had directed that Paytm Payments bank cease new deposits and credit transactions from February 29 onwards due to supervisory concerns and non-compliance of rules.
The report mentioned that Paytm shared a plan with the RBI during the meeting on how it plans to address issues raised by the central bank.
source:internet
