RBI Restricts Paytm Payments Bank From Taking New Deposits, Credit Transactions
The Reserve Bank of India on Wednesday restricted Paytm Payments Bank Ltd from taking fresh deposits and credit transactions across its services, due to non-compliance of regulations and supervisory concerns.An audit report revealed "persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action," the central bank said in a release.Paytm Payments Bank will not be allowed to take further deposits in any customer accounts after February 29, the RBI said.It added…