IUX24
TopMarketWorldEconomyFinanceTechnologyBusinessPoliticsAnalysis & Opinion

RBI cancels Paytm Payments Bank banking licence

The Reserve Bank of India announced on Friday that it has officially cancelled the banking licence for Paytm Payments Bank. The decision takes effect immediately.

Xurve View
Insights:

The central bank of India has officially revoked the banking license of the payments subsidiary belonging to ONE 97 COMMUNICATIONS LTD. The decision marks a significant regulatory move against the digital finance platform, which has faced increasing scrutiny over its operational compliance.

The logo of the Reserve Bank of India is displayed at its main office in Mumbai, photographed in April 2023. REUTERS/Francis Mascarenhas/File Photo
IUX24

IUX24 AI-powered financial news and market intelligence. Think and act like smart money.

IFZA Properties, Dubai Silicon Oasis, DSO-IFZA, Dubai, United Arab Emirates

Copyright IUX24 MEDIA - FZCO. All rights reserved.

Powered by AI • Made with precision

IUX24 is an information and analytics platform providing news, market data, analytical tools, and AI-powered features for informational and educational purposes. The Services and information provided do not constitute investment advice, trading signals, or brokerage services. Investing involves risk, and Users should carefully evaluate information before making investment decisions.