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Asia-PacificFebruary 1

Scale of RBI response to Paytm under scrutiny

The Reserve Bank of India’s move has brought both the actions of the bank and the regulator’s response to fintechs into the spotlight
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Scale of RBI response to Paytm under scrutinyImage: Dhiraj Singh/Bloomberg

The Reserve Bank of India has announced it is taking measures against Paytm Payments Bank, the banking arm of the country’s Paytm mobile payments service.

In the announcement, RBI said an audit by external auditors found non-compliances that needed further supervisory action, and “material supervisory concerns” within the bank.  

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Kimberley Long is the Asia editor at The Banker. She joined from Euromoney, where she spent four years as transaction services editor. She has a BA in English Language and Literature from the University of Liverpool, and an MA in Print Journalism from the University of Sheffield. Between degrees she spent a year teaching English in Japan as part of the JET Programme.
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