Paytm Payments Bank : Shocking News : Paytm Payments Bank license cancelled? Since the implementation.. | Telugu News

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Based on Paytm Payments Bank's response, it seems that the license will be revoked. If there is no proper response from the bank, the license will be canceled from March 15.

Paytm Payments Bank : Shocking News : Paytm Payments Bank license cancelled?  Since the implementation..

Paytm Payments Bank: Paytm Payments Bank is getting blow after blow. One day before the Union Budget i.e. on January 31, Reserve Bank of India gave a big shock to Paytm Payments Bank. It has banned collecting deposits and topping up wallets and FASTags. It will be implemented from February 29. Paytm users are worried about this. At this moment, it is said that another tough decision will be taken soon. On the other hand, its shares are falling rapidly in the share market. Shares of One 97, the parent company of these two, are also falling.
Paytm founder and CEO Vijaysekharsharma said that there is a risk that the annual operating income will fall from Rs.300 crore to Rs.500 crore due to the actions against the bank. While Iyera holds 51 percent stake in the bank, One 97 Communications owns 49 percent.

Cancel the license..?

Meanwhile, it seems that the Reserve Bank will not stop with these restrictions. There is information that there is a plan to cancel the license of Payments Bank. Currently given a chance till February 29. Thus customers withdraw their deposits and are safe. After that, the bank license will be revoked on March 1, according to reliable information. Since then customers will not be able to access their savings account including their wallets.

Implementation from March 15.

It is reported that Paytm Payments Bank has seriously violated RBI regulations. There are also allegations of misuse of customer documentation provisions. It is reported that KYC regulations are not being followed at all. It is being spread that the audit is also not being conducted properly. Based on Paytm Payments Bank's response, it seems that the license will be revoked. If there is no proper response from the bank, the license will be canceled from March 15.

Tags

  • Business news
  • Paytm
  • Paytm License Cancellation
  • Paytm Payments Bank
  • RBI

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