Governor Shaktikanta Das said that No review of action taken against Paytm Payments Bank

Shaktikanta Das: Reserve Bank of India (RBI) Governor Shaktikanta Das has made it clear on Tuesday that the action taken against Paytm Payments Bank will not be reviewed. RBI Governor said that we have always been adopting the stance of cooperation in the Fintech sector. RBI will continue to promote fintech. But, violation of rules will not be tolerated.

Central Bank will issue FAQ in this regard

Shaktikanta Das said that there is no plan to review the decision taken against Paytm Payment Bank. While talking to the media, he said that I want to make it clear that this decision has been taken in the interest of the customers. In a few days, the Central Bank will issue FAQs (Frequently Asked Questions) in this regard. You all will have to wait for that. We have taken the decision after discussing this for months. Sometimes RBI talks for years before taking such decisions.

RBI's priority is the interests of customers.

RBI Governor Das said that our attitude towards fintech is clear. We want their number to increase in the country. The sector should also progress. Fintech will always get support from RBI. But the interests of customers and the financial stability of these companies will remain our priority. On January 31, RBI had banned Paytm Payments Bank from taking deposits and top up. This decision will come into effect from February 29. Due to this tough decision, the bank will have to close its operations after February 29.

Director Manju Aggarwal resigns from the board

One 97 Communications said in its regulatory filing that Manju Aggarwal had resigned on February 1. This has been approved by the board of Paytm Payments Bank on 6 February. The company said that this decision will not affect their business. Manju Aggarwal's resignation comes at a time when Paytm Payments is facing RBI ban.

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